9Unicorns announces fifth closure at $100 mn of maiden fund

9Unicorns, early-to-growth stage accelerator fund, has announced the fifth closure of its maiden fund at $100 million.

The fund has so far invested in 110+ idea and product startups including a few growth stage / series C players like Vedantu, ShipRocket, ShopKirana.

While the fund was launched in late 2020 with a total size of $50 million, the overall positive sentiment in the Indian startup ecosystem and fund’s current portfolio performance has led 9Unicorns to double at $100 million so far.

The accelerator fund has made investments in 110+ deals so far. It plans to invest $500K to $1 million in the idea stage and, up to $2 million in high-growth stage Series C and above startups this year.

The fund has invested in startups like Vedantu, Melorra, ShipRocket, Reshamandi, Biddano, BluSmart, IGP.com, Faarms, Instoried and GoQii.

The focus is on DeepTech, Enterprise SaaS, Web 3.0, FinTech, Media, InsureTech, HealthTech, EduTech & D2C startups.

Commenting on the fifth close, Dr. Apoorva Ranjan Sharma, Managing Director and Founder of 9Unicorns, said, " Our unique approach to redefine idea stage funding has led to an increased fund size with several leading LPs believing in our strategy. Besides, last year was one of the best times for the startup ecosystem with a funding rush. We invested in 101 deals in 2021 and plan to double that amount this year. We will finish deploying the fund by mid next year, post which we plan to launch our second fund.”