Accelerator fund 9Unicorns is looking to invest $35 million across 150 start-ups globally in 2022 across idea-stage and firms which are in the Series C round. The $100 million-fund claims to have participated in 30 investment rounds in 2021, which also involved participation from multiple global VCs, family offices, unicorn founders and top CXOs. The fund is also on track to create several billion-dollar start-ups in over the next few years. For idea-stage round, it looks to invest $.5 million to $ 1million, as per the company's statement.
For Series C and above stage start-ups, the fund plans to deploy up to $3 million in high-growth stage start-ups. In 2021, the two-year-old fund has already deployed 25 per cent of the capital in high growth Series C and B start-ups even as it would continue to develop great idea-stage companies into potential unicorns.
"9Unicorns is a sector and stage agnostic fund. While, we are aiming to become world’s largest accelerator fund with a razor-sharp focus on idea and seed stage start-ups, we have also started looking at Series B & C keeping in mind the new exit opportunities for start-ups via IPOs that India has been witnessing lately for tech start-ups,” said Apoorva Ranjan Sharma , the co-founder of 9Unicorns.
“We are setting new benchmarks in the entire VC industry and no one has so far reached the numbers in up rounds that we have. Next year, we plan to be more aggressive and invest in total 150 start-ups globally with an approximate investment worth Rs 400 crore or more,” Sharma added.
During the year, 9Unicorns invested in 90-odd unique start-ups with a total round size of $465 million. On a standalone-basis, 9Unicorns invested a total amount of $32 million.
VC investments into the Indian start-ups, according to a recent report by the Venture Intelligence, has jumped by 200 percentyear-on-year (YOY) to touch $38 billion in 2021.
The portfolio of 9unicorns comprises of fintech firm, Klub, AI startup TOCH, D2C brand Power Gummies, two- wheeler financing firm OTO Capital, and EV start-up Zypp, among others.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today