Unitus Ventures to announce third fund by year-end

Unitus Ventures plans to launch a new VC fund with a focus on job tech companies. The firm will start raising capital for this new fund over the next few quarters and expects to make a definite announcement by the end of this year. Some of the portfolio companies of Unitus Ventures include Cuemath, Careerninja, Milaap, Bandhoo, and Masai, among others. The early-stage venture fund has launched two funds till now. ₹140-crore Fund I was launched in 2013 and ₹210-crore Fund II was launched in 2018.

Why did the fund decide to turn focus on job tech companies?

In our current fund, the initial thesis was that we would be backing entrepreneurs building utilitarian essential services for India. Essential services mean access to jobs, access to healthcare, finance, fintech, edtech, and so on. Now in the process of building our portfolio, we ended up with a portfolio that was very heavy on companies that were in some way or shape, affecting jobs or employment opportunities. Essentially, companies which address the challenge of jobs from one angle or the other. So that’s the lens with which we will be looking at our upcoming fund.

Read the complete article on The Business Line >

Liked the update?