Unicorn India Ventures has finished a first close of Rs 40 crore on its Rs 100 crore fund, reports NextBigWhat. The fund will invest in early stage startups in verticals like mobile, social media, analytics, cloud tech and Internet of Things (IoT).
The fund will invest in 10-12 startups every year, with a plan to create a portfolio of 30 companies in 3 years. It claims to spend 2-3 months with founders of the startup to understand the business model, working relations in the company, scaling potential, global reach potential etc., before investing in the startup. Unicorn has also appointed Aayush Jain as a Principal for the fund who will head the company’s operations.
– Last month, Mumbai-based seed fund investor Blume Ventures raised $30 million for its Fund II. The firm is targeting to raise an overall fund of $60 million by March.
– In December, industrialist Sudhir Menon and digital marketer Atul Hegde set up a new $50 million early stage start-up fund called Rainmaker Ventures
– The same month, China’s APUS Group launched a fund in India worth Rs 300 crore to invest in startups. The fund will focus on investing in early stage startups working on mobile internet projects.
– In the same month, venture capital firm Tiger Global Management raised $2.5 billion for a new global fund. Read more here.
– In March, Venture capital firm SAIF Partners raised $350 million for a new India-focused fund from 27 investors.
– The same month, Accel Partners, the venture capital firm that backed the Flipkart, launched a $305 million India-focused fund to capitalise on favourable conditions for start-ups.
– In July, seed-stage fund AngelPrime raised Rs 300 crore from The Social+Capital Partnership and several institutional investors.
– Mayfield Fund closed its second India-dedicated fund at $108 million in February.
– Sequoia Capital added another $210 million to its existing $530 million-India fund in April.