Unicorn India Ventures, a Mumbai-based early-stage venture capital firm focused on Indian deep-tech startups, said on October 22 that it had launched operations in the US.

Former Google executive Kishore Kanakamedala has been appointed as venture partner to lead the expansion.

The firm said Kanakamedala would build a team in the US, help portfolio companies enter the market, and expand Unicorn India Ventures’ investor base in the US. The move also aimed to build co-investment ties.

The expansion followed the 4.5 billion rupees (US$47.6 million) first close of IITM Unicorn Frontier Fund I, launched with IIT Madras and IIT Madras Research Park for deep-tech startups.

The firm said it saw strong interest from investors in the US while raising its third fund.

It also pointed to growing investor interest in Indian deep tech more broadly.

In the US, Securities and Exchange Commission rules provide conditional registration exemptions for some venture capital fund advisers, foreign private advisers, and advisers that manage less than US$150 million in private fund assets in the country.

🔗 Source: Unicorn India Ventures