9Unicorns achieves fourth close of accelerator fund at $50 million

Commits investments in 59 startups with a combined valuation of $420 million

Startup incubation fund 9Unicorns has announced the fourth close of its first accelerator fund at $50 million. It has committed investments in 59 startups whose combined valuation is pegged at $420 million. Seven of these startups have already raised bigger rounds of investments within a range of 1.65X– 4X valuation. The Venture Catalysts (VCats)-backed sector-agnostic fund plans to invest in 150 such startups over the next one year.

The fourth close witnessed participation from snack maker Haldiram's, Indian Bank, Ahmedabad-based Chona Family Office, Parakh Foods, Puzzolana Group and many other LPs from smaller Indian towns to global cities thus truly democratising