Venture Catalysts fund raises money from Haldiram’s and others, marks second close

Venture Catalysts fund raises money from Haldiram’s and others, marks second close
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8 Feb, 2021

9Unicorns, the accelerator fund set up by early-stage incubator and investor Venture Catalysts, has marked its second close with a Rs 100 crore (around $13.7 million) infusion from a clutch of limited partners (LPs).

One of the LPs is sweets and snacks manufacturer Haldiram’s, 9Unicorns said in a statement. It did not disclose the identity of the other LPs, saying that they included leading domestic and international industrialists and businesses.

The fund hit its first close in September at Rs 100 crore (around $13.7 million). First close is a fundraising milestone after which a fund deploys money.

Now, with the latest infusion, the raised amount has gone up to Rs 200 crore.

Also, 9Unicorns has now raised the corpus target of its fund to Rs 500 crore through the exercise of a green-shoe option. It is looking to raise this entire amount over the next few months from investors including corporations, family offices, and global institutions.

9Unicorns says it has so far sealed at least 32 deals. Portfolio companies for the fund include beverage brand Raskik, fitness platform Oga Fit, AI-based content marketing firm Instoried, celebrity engagement startup Gonuts, social gaming platform Tamasha, fertility care firm Janani, and snacks-focused consumer brand TagZ Foods.

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