In a strong signal of confidence in India’s startup ecosystem, Unicorn India Ventures has announced the final close of its Fund III at ₹1,200 crore .
The fundraise comes at a time when global venture capital activity has slowed, startup valuations have corrected, and many investors remain cautious. Against this backdrop, closing a four-figure crore fund stands out as a notable achievement.
Fund III will primarily focus on Series A and early growth-stage startups , with investments planned across high-conviction sectors such as:
SaaS
Enterprise technology
Fintech infrastructure
Deep tech
Data-driven platforms
The firm plans to back 25–30 startups , deploying larger cheque sizes compared to its earlier funds, signalling deeper conviction and longer-term engagement with portfolio companies.
One of the most notable aspects of Fund III is its investor composition. A significant portion of the capital has been raised from Indian family offices, domestic institutions, and returning limited partners .
This reflects a broader shift in India’s venture ecosystem, where local capital is increasingly stepping up to support innovation as foreign investors become more selective.
For startup founders, this development is particularly important. As global capital tightens, domestic VC firms with long-term conviction are emerging as critical growth partners.
Unicorn India Ventures has positioned itself as a hands-on investor , supporting founders beyond capital—across strategy, governance, and follow-on fundraising.
The closure of Fund III reinforces a larger trend in Indian startups:
the next generation of unicorns is likely to be built quietly during challenging funding cycles , rather than in exuberant bull markets.
Periods of capital discipline often reward founders and investors who prioritise fundamentals, execution, and sustainable growth.
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