Early-stage focussed VC firm Unicorn India Ventures has reached the final close of its third fund at INR 1,200 Cr, exceeding its initial target of INR 1,000 Cr post exercising a green shoe option of INR 200 Cr. The capital for the fund has been netted from limited partners (LPs) such as SIDBI, SBI, along with undisclosed US-based investors, Indian UHNIs and family offices. Cofounder and managing partner Bhaskar Majumdar told Inc42 that the firm has already backed 17–18 startups through the fund, with an average ticket size of INR 10–15 Cr each. As of now, the firm has about three more investments at various stages of completion in the pipeline. Of the total corpus, around 20–25% (roughly INR 250 Cr) will be deployed towards initial portfolio creation, while the remaining capital has been earmarked for follow-on rounds. The fund has already enabled it to participate in select follow-on investments, taking the overall portfolio valuation to over $1 Bn. Recent follow-on investments include Netrasemi’s INR 107 Cr Series A round, where the firm claims to have seen a 7X jump on its initial investment, and Aurassure’s INR 25 Cr funding round. Unicorn India Ventures’ third fund marks a pivot towards… Read MoreInc42 Media
