VC firm, Unitus Ventures, has grabbed an investment of INR 75 crore ($10 million) under SIDBI’s Fund of Funds for the Startups initiation to enable the Indian government. This funding will hold more durable deployment of its second ?300-crore fund, which was launched in 2018.
Unitus Ventures Fund II plans to invest in 15-20 startups in scaled up as well as early stages with ticket sizes between $0.5 million to $1.5 million. The primary aim of funds will be to select stellar founding teams who have what it takes to deliver and build distinct products and services and the potential to be global or national market leaders.
In 2013, Unitus Ventures were founded as India’s leading impact venture fund for investment in startups innovation for the masses across education, healthcare, and fintech sectors. Unitus Ventures is a part of the leading global network of impact fund, Capria Network, where it manages to invest in emerging markets of Asia, Africa, and Latin America.
Unitus Ventures Fund II plans to focus on innovative startups, which creates technology platforms that link millions of job seekers with applicable employment opportunities and build a strong portfolio in the emerging job-tech sector. For instance, if the high order imparting programming skills make college dropouts and graduates similar to get ready for the huge opportunity of the most challenging software development jobs. Unitus had invested ?8.5 crores ($1.1 million) in Masai School. Unitus continues to enhance its job-tech portfolio more.
PRTM Management Consultants former partner Raj Nooyi and PepsiCo former CEO Indra Nooyi, and Cognizant CEO and vice-president Lakshmi Narayanan are few of the new investors. They came on-board with the existing investors such as the Michael & Susan Dell Foundation, Gates Ventures family office, and Hemendra Kothari in Fund II.
Unitus Ventures is preparing its team to give steady support to its latest fund. The VC firm’s partner Srikrishna Ramamoorthy stated that we should maintain the focused and supporting fund on companies’ portfolios through the growth stages and the pivotal operating experience. The firm is also excited to announce that seasonal investor and an operating executive, Surya Mantha, has joined Unitus Ventures as a senior partner. Besides this, Radha Kizhanattam, a long-time member of the Unitus Venture team, has now elevated to a joint partner of the firm.
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