100Unicorns

Initially established as 9Unicorns and now rebranded as 100Unicorns, this Mumbai-based company is recognized as India's largest accelerator VC, functioning as both a VC fund and an accelerator.

As part of the Venture Catalysts Group, 100Unicorns is dedicated to investing in very early-stage startups with the goal of developing them into the next wave of Indian unicorns.

Investment Strategy:

100Unicorns operates as an accelerator and VC, investing in early-stage startups.

The firm's newly launched second fund, 100Unicorns Fund II, has a total of $200 million, with an option to increase by an additional $100 million.

This fund aims to support 200 early-stage startups, following a model akin to Y Combinator by offering support from the ideation phase.

100Unicorns plans to allocate about 60% of the fund for initial investments, ranging from $250,000 to $300,000 per startup, reserving the remaining capital for follow-on investments up to $3 million in portfolio companies.

They intend to support startups through their first three funding rounds, connecting them with larger VCs as they expand. 15% of the fund will be invested in startups located in the US, Middle East, Africa, and Asia.

Focus Areas:

100Unicorns invests across various sectors, including robotics, healthcare, EV, defense, D2C, SaaS, travel, and fintech. The fund is particularly interested in startups utilizing AI and is dedicated to supporting companies from Tier II and Tier III cities that tackle local issues with a global perspective.

Portfolio Highlights:

100Unicorns' first fund has invested in over 140 startups in sectors like fintech, deeptech, enterprise SaaS, media, insurtech, and D2C1. Successful investments from the first fund (9Unicorns Fund I) include:

VideoVerse

TruNativ

Zypp Electric

RENÉE Cosmetics

IGP

These companies have become leaders in their respective fields.

Commitment to Corporate Governance:

In response to corporate governance concerns in the Indian startup ecosystem, 100Unicorns has partnered with Nishit Desai & Associates to advise its portfolio companies on setting up strong corporate governance frameworks.

The fund also plans to involve founders of unicorns and soonicorns to mentor startups in developing sustainable business models.

Management Perspective:

Apoorva Ranjan Sharma, cofounder of 100Unicorns and managing director of Venture Catalysts, stresses the fund's commitment to nurturing startups and aiding their growth.

Ankit Jain, partner at 100Unicorns, underscores the fund's vision of supporting startups from Tier II/III cities and focusing on climate-tech and sustainability.

100Unicorns plays a vital role in shaping the future of the Indian startup ecosystem.