9Unicorns rebrands itself to 100Unicorns and launches Fund II With this strategic move, 100Unicorns aims to fuel innovative companies and the rebranding will also mean a significant shift in the Indian startup ecosystem by reducing dependency on international funding sources.
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India's leading early-stage accelerator fund 9Unicorns has announced the launch of its second fund following a major rebranding exercise and will now be known as 100Unicorns.
100Unicorns, a part of India's largest multistage investing firm Venture Catalysts Group, has launched its second accelerator fund called '100Unicorns Fund II' with a target size of $200 million including a green-shoe option of $100 million. The launch highlights the fund's robust commitment to nurturing the growth of the next wave of 200 challenger startups emerging out of India.
With this strategic move, 100Unicorns aims to fuel innovative companies and the rebranding will also mean a significant shift in the Indian startup ecosystem by reducing dependency on international funding sources.
In its first fund, 100Unicorns Fund I (formerly 9Unicorns) had invested in several innovative startups that went on to become multi-bagger success stories. Notable examples include Videoverse, Trunativ, ZyppElectric, Renee Cosmetics, and IGP, which have all emerged as leaders in their respective domains.
"Rebranding to 100Unicorns is the next step in our evolution process. We have seen significant growth in the Indian startup ecosystem and massive funding inflow in the past couple of years. India was regarded as an IT outsourcing nation for the 3-4 decades, but in the last 10 years has emerged as a global leader across large multi-billion dollar companies," said Dr Apoorva Ranjan Sharma, Managing Director of Venture Catalysts Group and Cofounder of 100Unicorns.
"Today, Indians are targeting moonshot ideas in emerging sectors like Space Tech, BioTech, Electric Vehicles & Cleantech. On the back of these developments, we are excited about this next step of launching a $200 fund that aligns us with the needs of the Indian startup ecosystem," Dr Sharma added.
With the new fund, Dr Sharma said the vision is to nurture a pool of 200 outlier startups and propel them to join the billion-dollar club over the next decade.
The accelerator fund is said to provide funding ranging from USD 300,000 to USD 1 million per startup in the first round, along with extensive product, business, and fundraising support. This is followed by USD 500,000 to USD 2 million in subsequent rounds with co-investors.
Rajesh Mane, Partner at 100Unicorns said,"100Unicorns has proved its model of identifying the best founders and enabling them with the right support at every step of the journey. We have institutionalized support for startups with a focus on growth and fundraising."
The firm has played a crucial role in the startup ecosystem with initiatives such as DDay and ProStar serving as catalysts for over 80 startups that have collectively secured upwards of $400 million in funding. Furthermore, over 27+ global roadshows spanning Singapore, the Middle East, and Africa have successfully opened avenues for market expansion for more than 50 portfolio companies.
100Unicorns has reviewed over 14,000 startups & invested in 140+ deals through its first fund.
Ankit Jain, Partner at 100Unicorns highlighted, "100Unicorns' early vision of supporting startups from Tier-2/3 Cities, backing founders, solving local problems with global vision, and focus on climate-tech/sustainability has proven right over the past 4 years. With the upcoming fund, we strive to create an integrated ecosystem & build a full-stack growth portfolio for early-stage startups to navigate a seamless journey to become a category leader."
100Unicorns said that its commitment to the early-stage nurturing process is evident from the success of companies such as VideoVerse, Assiduus, and Convin. Some of the portfolios extend beyond tech to include climate-conscious firms like Zypp Electric and Blu Smart. These investments have made significant environmental impacts, collectively cutting CO2 emissions by 75 million kilograms according to the firm.
"At 100Unicorns, we are channeling that inspiration to cultivate an ecosystem designed for triumph. Our aim is to carve out a leading role as a top-tier accelerator in India, fostering an environment where emerging startups are poised for victory and leadership in the global marketplace," added Jain.
The upcoming fund II of $200M from the firm will look to capitalize on the gap that exists in the Indian seed funding space.
