9Unicorns launches Fund II with target of $200 Mn, rebrands itself to 100Unicorns

Early-stage accelerator fund 9Unicorns has announced the launch of its second fund following a rebranding exercise. As a result of this rebranding, 9Unicorns will now be known as 100Unicorns.

100Unicorns, a part of multistage investing firm Venture Catalysts Group, has launched its second accelerator fund called 100Unicorns Fund II with a target size of $200 million including a green-shoe option of $100 million.

In its first fund, 100Unicorns Fund I (formerly 9Unicorns) had invested in several startups including Videoverse, Trunativ, ZyppElectric, Renee Cosmetics, and IGP.

It provides funding ranging from $300,000 to $1 million per startup in the first round, along with product, business and fundraising support. This is followed by $500,000 to $2 million in subsequent rounds with co-investors.

100Unicorns said that it has played a crucial role in the startup ecosystem with initiatives such as DDay and ProStar serving as catalysts for over 80 startups that have collectively secured around $400 million in funding.

With the new fund, the fund aims to nurture a pool of 200 outlier startups and propel them to join the billion-dollar club over the next decade.