Early-stage startup focused VC fund, Unicorn India Ventures, has partnered with JRLaddha Financial Services Pvt Ltd. (JRLFS) in line with its strategic vision to reach out to new class of investors. A strategic partner like JRLFS will enable the fund to attract funding from traditional family business houses for their second round of fund raising. Just this month, the venture fund had got a commitment from the India Aspiration Fund, INR 2,000 Cr. fund of funds launched by the government of India.
As per the deal, Manoj Laddha, MD at JRLFS, will join Unicorn India Ventures as a partner.
Founded by Anil Joshi and Bhaskar Majumdar, Unicorn India Ventures closed its first round fund of about $15 Mn (INR 40 Cr) earlier this month, and plans to raise about INR 100 Cr. by June this year.
The fund plans to invest in the early-stage in 30 companies over its tenure of seven years and will also participate in Series A rounds.
Manoj Laddha, MD at JRL Group and Partner at Unicorn India Ventures said, “We believe it is not only the right time to start investing in startups as many of them have potential to give high returns but also a big chance of becoming Flipkart, Ola and PayTm’s of tomorrow.”
He further added, that every year, angel investments create thousands of revolutionary and life changing technologies into full-fledged businesses. In addition to providing capital, angel investors have a chance to be involved with the companies themselves. Besides, the company is also looking to invest around $ 1 Mn in the fund.