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

EntrackrEntrackr · 14h 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.

Yali Capital closes maiden deeptech fund at Rs 893 Cr

EntrackrEntrackr · 6m ago
Yali Capital closes maiden deeptech fund at Rs 893 Cr
Medial

Yali Capital closes maiden deeptech fund at Rs 893 Cr Venture capital firm Yali Capital has closed its maiden deeptech focused fund at Rs 893 crore (about $103.2 million). Yali Capital had launched the early stage fund at Rs 810 crore in July last year to back startups operating in the deeptech sector. The fund intends to invest in startups across chip design, robotics, genomics, smart manufacturing, aerospace, and AI sectors, Yali Capital said in a press release. The VC firm has raised capital from corporates such as Infosys, Qualcomm Ventures, the DPIIT Fund of Funds for Startups, and Evolvence, among others. Additionally, TVS Capital founder Gopal Srinivasan, Rare Enterprises chief executive Utpal Sheth, and JM Financial’s managing director Vishal Kampani are among its notable investors. Launched by Ganapathy Subramaniam and Mathew Cyriac, Yali Capital is a SEBI approved Category II AIF and had initially set its target close to Rs 500 crore, with an additional greenshoe option of Rs 310 crore. “China is well ahead in the deeptech space and has overtaken America. India has all the potential, from services to deeptech, but certainly has much distance to cover,” said Ganapathy Subramaniam. Yali Capital has made five investments, including genomics startup 4baseCare, robotics startup Perceptyne Robots, and fabless chip design company C2i Semiconductors. It plans to expand its portfolio to eight companies by the end of the year.

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