Bengaluru: Startup incubation platform, 9Unicorns on Tuesday announced the fourth close of its first accelerator fund (Fund I) at $50 million. 9Unicorns has already committed investments in 59 odd startups whose combined valuation is pegged at $420 million. The Venture Catalysts (VCats)-backed fund now plans to invest in 150 startups over the next one year. With focus on deeptech, software-as-a-service (SaaS), media, fintech, insuretech, healthtech, and logistics startups, 9Unicorns typically invests around $150,000 for 5%-7% equity in idea-stage startups. The syndication also includes ‘super angels’ including Ritesh Agarwal, founder, OYO; Pankaj Chaddah, founder, Zomato; Anand Chadrasekaran, Ramakant Sharma, founder, Livspace, and Amrish Rau, chief executive, PineLabs among others.

Source: Mint June 29, 2021 05:48 UTC