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Unicorn India Ventures closes Fund III at Rs 1,200 Cr

EntrackrEntrackr · 5d ago
Unicorn India Ventures closes Fund III at Rs 1,200 Cr
Medial

Unicorn India Ventures closes Fund III at Rs 1,200 Cr Deeptech-focused venture capital firm Unicorn India Ventures has closed its third fund at Rs 1,200 crore, surpassing its initial target of Rs 1,000 crore. LPs in Fund III include HNIs, UHNIs, family offices, and institutions. Backers include Sidbi, SBI, Nabard, and the state governments of Kerala, Madhya Pradesh, and Odisha. According to Unicorn India Ventures, the fund focuses on investments in semiconductors, spacetech, and AI infrastructure. The VC firm claims to have already seen strong early traction, with seven to eight portfolio companies witnessing substantial follow-on rounds. The fund will make 20 investments with an average ticket size of 10-15 crore. It plans to announce four investments in the coming months across quantum sensing, agritech, and spacetech. Across its three funds, the VC firm has built a portfolio of nearly 50 companies, with a total portfolio valuation of about $5 billion. The firm says that it is largely staying away from AI applications (SaaS) and focusing on AI infrastructure such as semiconductors, data centres, power, and enabling technologies. It is also actively exploring nuclear micro power generation as an enabler for AI. Another major trend playing out in the fund is the growing presence of academicians as startup founders. Four to five companies in Fund III are led by academicians, with one of them being a teaching academic. Unicorn India Ventures (UIV) is a Mumbai-based, SEBI-registered Alternative Investment Fund (AIF) launched in 2015 by Bhaskar Majumdar and Anil Joshi. It acts as an early-stage venture capital firm investing in technology-led startups, focusing on seed to pre-Series A rounds with investments ranging from Rs 1 to 10 crore. The firm supports B2B, SaaS, and DeepTech sectors, aiming to build, support, and scale companies, with over 60 investments to its credit.

Kettleborough VC launches fund II with Rs 80 Cr target, closes Rs 35 Cr in first tranche

EntrackrEntrackr · 6m ago
Kettleborough VC launches fund II with Rs 80 Cr target, closes Rs 35 Cr in first tranche
Medial

Venture capital firm Kettleborough VC, founded by early-stage investor Nisarg Shah, has launched its second fund with a target corpus of Rs 80 crore and announced a first close at Rs 35 crore. The fund is backed by a mix of family offices and entrepreneurs from India and the US. According to Kettleborough, Fund II will continue to invest in deeply experienced founders at the earliest stages, typically those with over 10 years of domain expertise and a strong execution focus. The firm will write initial cheques of $300,000–$500,000 in about 10 startups, with significant follow-on reserves for high-performing bets. Founded in 2021, Kettleborough VC has built a name as a conviction-led, construct-specific fund. Its Fund I backed 12 startups including Zippmat, InPrime, Finhaat, and Elivaas, nine of which received their first institutional cheque from Kettleborough. These portfolio companies have since raised follow-on rounds from investors like Omnivore, Lightspeed, 3one4, and Bessemer. “We only back founders for whom the startup is a natural outcome of a decade-long journey in their domain. Fund I has validated this thesis with strong portfolio traction and early PMF. Fund II doubles down on this conviction,” said Shah. Kettleborough added that it focuses on “Dhandha-first” businesses, with interest across financial services, commerce infrastructure, and vertical SaaS/AI platforms. Shah has personally backed over 30 startups, with 10 exits and 80 follow-on rounds, including hits like Foxtale, Onebanc, and Homeville.

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