Accelerator fund of Venture Catalysts – 9Unicorns has announced the third close of its accelerator fund at $40 million.
“As a fund, we aim to back early-stage firms that have the potential to become billion-dollar companies in the future. We have made our third close much before our set target and are looking to make the final close soon to propel an already thriving startup economy,” founder and managing director at 9Unicorns – Apoorva Ranjan Sharma, said in the statement.
“The sector-agnostic fund has already committed investments in about 40 startups within seven months of its first close. Of that, 25% of startups have already raised bigger rounds of investments within a range of 2x-4x valuation,” a statement made by the company informed further.
9Unicorns is backed by several well-known global VCs, LPs from across ten countries, family offices of large organizations such as The OPG Group, The MBG Group, Parakh Foods, Qualcon International, UB Cotton, along-with top executives from SAP, Linkedin, Quest Global, AB InDev, Fujitsu besides several Unicorn & Decacorn founders.
