Unitus Seed Fund may float a second fund, says co-founder Dave Richards

29 Jul, 2015

Dave Richards, managing partner of Unitus Seed Fund, is exploring the opportunity of floating a second India-specific fund.

"At this point our fund is closed and we are not raising any more money. Probably at a later time we will be looking at a second fund and we are seeing the opportunity in India," Richards, who co-founded Unitus Seed Fund in 2012, said.

Unitus Seed Fund is part of the Unitus Group, a financial services group operating in India and other emerging markets since 2000. It has offices in Bangalore and Seattle (the US). Till date, the company has made 16 investments in India across sectors such as healthcare, education, mobile, e-commerce, retail and agriculture through its $23 million seed fund.

In an interaction with Techcircle.in, Richards talks about the fund's recent investment in edutech companies iSTAR and LabINApp.

Given the affordability of smartphones in the country, Richards believes that the 'next billion dollar' entity  from India would be an edutech startup. Edutech firms that are driving down costs and increase accessibility would be the clear winners in his view.