World · India Bureau
IIT Madras-backed Unicorn India Ventures raises ₹450 crore
The venture capital firm, backed by IIT Madras, has secured ₹450 crore in its latest funding round as it works towards closing a ₹1,000 crore fund by year-end.
LSN India ·
Unicorn India Ventures, the venture capital firm with backing from IIT Madras, has raised ₹450 crore in its ongoing fundraising efforts, according to sources familiar with the development. The firm is aiming to complete its current fund at ₹1,000 crore by December, marking a significant milestone in its capital raising journey.
The IIT Madras-backed venture capital firm focuses on identifying and nurturing early-stage startups across technology and innovation-driven sectors. The additional capital will enable the firm to expand its portfolio and provide greater support to emerging entrepreneurs in the South Asian startup ecosystem.
Venture capital activity in India has remained robust, with domestic and international investors maintaining interest in high-potential startups. Unicorn India Ventures' fundraising progress reflects the ongoing confidence in India's entrepreneurial landscape despite broader economic uncertainties.
The firm's completion of the ₹1,000 crore fund by year-end would position it among the significant venture capital players in the region, with increased capacity to support portfolio companies through multiple growth stages.