India's 100Unicorns Launches $200 Million Fund, Expands Operations To MENA Region

Launched in 2020, 100Unicorns, previously known as 9Unicorns, is India's most extensive early-stage accelerator VC fund. It recently expanded its operations to Abu Dhabi, marking its first venture outside India. The new office is located in ADGM, Abu Dhabi's international financial center. This move comes with a revised fund target of $200 million, aimed at fostering over 50 category leaders in the startup sector.

The UAE has been chosen for this strategic expansion due to its role as a central gateway to the MENA region. 100Unicorns is set on establishing a well-curated bridge between India and the MENA region. This initiative will foster startup investments, acceleration, incubation, and the overall development of the startup ecosystems in both India and the UAE.

The Indian startup landscape has seen a significant boost, with startup funding increasing 15-fold from 2015 to 2022. India now ranks as the third-largest startup ecosystem globally, boasting over 110,000 startups and 111 unicorns valued at $350 billion.

100Unicorns has cemented its position as a leading VC fund by offering financial investments, mentorship, acceleration services, and strategic advice to startups from the ideation phase. In just three years, it has invested in 145 companies, with six valuations exceeding $200 million and 30 over $50 million. Their approach combines funding with access to a network of successful founders, industry veterans, and global advisors, spurring startup growth and generating significant investor returns.

Dr. Apoorva Ranjan Sharma, Managing Director and Founder of 100Unicorns, said, "We are pleased to establish our office in the UAE. It is a significant milestone in our journey to bring the best of India's vibrant startup ecosystem to global investors. By establishing our fund within ADGM, we aim to open doors for MENA investors to access high-growth opportunities in India with the assurance of top-notch corporate governance and transparency," he remarked.

Manoj Aheeray, Global Partner & SEO at 100Unicorns, emphasized the role of ADGM’s supportive environment and regulatory framework in facilitating their UAE launch. He noted how this move strengthens the historical ties between India and the UAE, enhancing cross-border collaboration and innovation.

Arvind Ramamurthy, Chief Market Development Officer at ADGM, highlighted how their infrastructure and strategic positioning offer a conducive environment for institutions like 100Unicorns to prosper. This further cements the UAE's position as a global hub for innovation and entrepreneurship.

Hanumantha Kumar Mannem, an Advisor at 100Unicorns, provided insights into India's burgeoning startup ecosystem, which houses over 100,000 startups, saying, "This growth is attributed to factors such as favourable government policies, a burgeoning tech-savvy population, and increasing investment inflows. While the US remains a global leader in the startup domain, India's rapid progress signifies its potential to become a major player in the global startup ecosystem."

100Unicorns has rebranded with a new vision to nurture at least 100 outlier startups or soonicorns, with the goal of elevating them to the billion-dollar club within the next decade. Initially, the accelerator offered funding between $300,000 and $1 million per startup in the first round, followed by $500,000 to $2 million in subsequent rounds with co-investors.

To alleviate concerns about investing in the Indian market, 100Unicorns has introduced measures such as a curated corporate governance framework, transparent investment processes, and quarterly performance updates. This holistic support system underscores their commitment to fostering innovation and nurturing the next wave of global startup success stories from India.