Unicorn India Ventures, a SEBI registered AIF-I VC fund, started by Anil Joshi and Bhaskar Majumdar has done its first close of Rs 40 crore of its Rs 100 crore fund. The fund will invest in early stage start-ups in the areas like social media, mobile, analytics, cloud tech and IOT.
Unicorn India Ventures has also appointed Aayush Jain, as a Principal for the fund. Mr. Jain comes with over 8 years of experience in corporate and product strategy, capital raising, business/corporate development and M&As across sectors including technology, media, cloud, digital, consumer and education. Having worked in leading investment banking and consulting companies, Aayush Jain will be heading Unicorn’s Delhi operations.
Post the close, Unicorn will be announcing its investments in start-ups. The fund plans to invest in 10-12 start-ups in a year, thereby creating a portfolio of 30 companies in 3 years. Their modus operandi to evaluate start-ups before investing in them is a unique one too.
The partners spend close to 2 — 3 months with founders of start-ups to understand their business model, team at work and co-founders’ working relationship among other aspects like potential of scale up, global reach of the company etc.