VC firm, Unicorn India Ventures has launched its second equity fund, which focuses on India and plus, third equity fund overall to finance India-based startup companies in the initial stage, according to a media report.
The equity fund has a target to amass INR 400 crore and is likely to hit the first close at INR 150 crore by the end of this year, Unicorn said in its statement, as reported by the daily news, VC Circle.
According to cited reports, tech-focused VC firm will invest money in almost 24 Indian startup companies at pre-Series A and Series A stages along with other rounds till Series B.
The VC firm will search for startup companies in various sectors like fin-tech, robotics, gaming, digital content and enterprise technology.
The VC firm had launched its first equity fund in 2015 and has invested in a variety of startups ranging from consumer internet to on-demand ventures since then. Managing Partner at Unicorn, Anil Joshi told the daily news.
In the latter half of 2017, Unicorn began searching for investment opportunities in fields like IoT, AI, cybersecurity, fin-tech, robotics, Joshi said.
Today, our portfolio from the first fund is one of the best performings in the industry and we hope to continue our track record with the launch of the second fund, Joshi added.