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 start-up investing.

In addition, 9Unicorns has also announced a Demo Day to showcase 30 odd startups from its portfolio along with Venture Catalysts.

“India is poised to cross hundred billion-dollar companies by 2023 and hence we feel this is the right time for us to conduct our first demo day to showcase some of our innovative startups to global VCs to raise bigger round,” said Apoorva Ranjan Sharma, Managing Director and Founder of 9Unicorns.

9Unicorns typically invests around $150,000 for 5-7 per cent equity per idea-stage startup. As of May, it has syndicated over $67 million investments with co-investors such as Sequoia Surge, Titan Capital, SOSV, and Nexus Ventures amongst others.

Some of its portfolio companies include mediatech Toch.ai, revenue-based financing firm Klub, fertility care provider Janani, marketing automation firm ExtraaEdge, audio production automation firm Deepsync, D2C lifestyle footwear brand Monrow, and edutech Qin1.