 "Unicorn India Ventures is set for final close of maiden fund")
Unicorn India Ventures, an early-stage investment fund, is set to announce the final close of its 100-crore maiden fund, said Bhaskar Majumdar, a co-founder.
The announcement is likely next month, after some paperwork for an investment from an institution. The fund, backed by domestic institutions like Small Industries Development Bank of India and Life Insurance Corporation of India, had announced the first close at Rs 40 crore in January.
While these two brought in 20 per cent of the corpus, family offices of business families contributed 40 per cent. High networth individuals chipped in with 20 per cent.
The announcement is likely next month, after some paperwork for an investment from an institution. The fund, backed by domestic institutions like Small Industries Development Bank of India and Life Insurance Corporation of India, had announced the first close at Rs 40 crore in January.
While these two brought in 20 per cent of the corpus, family offices of business families contributed 40 per cent. High networth individuals chipped in with 20 per cent.
