New fund

Unicorn India Ventures closes first tranche of Fund II

By Startup Enthusiast · 30 March 2020

What they do

The Mumbai venture firm booked ₹90 crore as the first close of its second fund, aiming for ₹400 crore within a year

Backers included family offices and investors from its first ₹100 crore fund, and the money is meant for about 20 startups

Cheques start near $1 million at pre-Series A stage, and the first bet from the fund was diagnostics startup Sascan

Unicorn India Ventures marked the first close (first batch of committed money) of its second fund.
The first close stood at ₹90 crore, against a target corpus of ₹400 crore.
Family offices and investors from its maiden fund took part.
The fund plans about 20 startups at pre-Series A and later.
Diagnostics startup Sascan was the first investment.