Investor profile
Unicorn India Ventures
VC
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Unicorn India Ventures is an early-stage, technology-focused Indian venture fund that partners with dedicated entrepreneurs building world-class, market-leading companies by disrupting traditional sectors or solving real-life problems using innovative technology-led products or services. The firm invests at seed and early stages with initial cheques of INR 1–10 crore (~$1–2M for Fund III), reserving the majority of its corpus for follow-on investments in portfolio winners. UIV targets startups with strong scalability, high gross margins, low customer acquisition costs, and clear paths to profitability—deliberately avoiding high cash-burn verticals such as D2C and content. Fund III marks a strategic pivot toward deep tech, including semiconductors, quantum sensing, defence tech, and spacetech, while maintaining ~25% allocation to consumer-led sectors. Approximately 60–65% of its portfolio originates from Tier-II and Tier-III Indian cities, and the firm also manages a UK-India cross-border fund (Unicorn Ascension Fund) in partnership with London-based Ascension Ventures.
Notable quotes
“We have two outliers from our first fund – OpenBank and SmartCoin. We studied our portfolio and created a list of 6 companies that we believe are future winners but need time to grow.”
“The Fund III is going exceedingly well, and we are just at the final stages of closing the fund.”
“Over the last 3 years, underwater robotics has emerged as an area of interest in India with deep tech startups demonstrating their might.”
Team
Manoj Laddha
Partner & GP
Amit Mehra
Partner
Kumar Sparsh
Vice President
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| VerveSemi | Series A | $10m | 2026-02-18 |
| EyeROV | Pre-Series A | $2m | 2026-02-04 |
| Aurassure | Pre-Series A | $3m | 2025-12-16 |
| MedySeva | Seed | $451k | 2025-11-05 |
| Netrasemi | Series A | $13m | 2024-12-10 |
| Open Financial Technologies (Open Bank) | Seed | — | 2017-01-01 |
| SmartCoin | Seed | — | 2017-01-01 |
| Sequretek | Seed | — | 2016-01-01 |
| Genrobotics | Seed | — | 2016-01-01 |
| Clootrack | Seed | — | 2017-01-01 |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| Seafund | 3 |
| IvyCap Ventures | 3 |
| Artha Venture Fund | 2 |
| Inflection Point Ventures | 2 |
| AWE Funds | 1 |
| Rainmatter Capital | 1 |
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