India’s Top Early-Stage Accelerator Fund Launches in MENA: What to Expect!
Exciting news is on the horizon as 100Unicorns, India’s premier early-stage accelerator and venture capital fund, sets its sights on global expansion! They’ve officially launched their first international office in Abu Dhabi Global Market (ADGM), marking a monumental step beyond their homeland. Since its inception in 2020—originally under the name 9Unicorns—this ambitious fund has aimed to cultivate over 50 category leaders and is now targeting a staggering $200 million fund to fuel its mission.
Why Abu Dhabi, you ask? The UAE’s prime location acts as the perfect conduit to the wider MENA region. 100Unicorns is on a mission to build a cross-border investment corridor that connects Indian startups with the vast opportunities in the UAE’s dynamic ecosystem, enhancing incubation, acceleration, and development across both nations.
This bold leap into the MENA market is not just a strategic move; it’s a game changer for the Indian startup landscape. Between 2015 and 2022, startup funding in India skyrocketed by an impressive 15 times! Today, India stands proud as the third-largest startup hub globally, boasting over 110,000 startups. With 111 unicorns and a jaw-dropping valuation of $350 billion, the numbers speak for themselves.
“Establishing our office in the UAE is a pivotal milestone for us,” shared Dr. Apoorva Ranjan Sharma, managing director and founder of 100Unicorns. “We’re thrilled to showcase India’s vibrant startup scene to global investors. By integrating our fund within ADGM, we’re paving the way for MENA investors to tap into high-growth opportunities in India, all backed by top-tier corporate governance and transparency.”
Manoj Aheeray, global partner and SEO at 100Unicorns, added, “The proactive support and exceptional regulatory framework provided by ADGM have been crucial in making our UAE launch a reality. This not only aligns with our growth strategy but also strengthens the long-standing ties between India and the UAE, promoting collaboration and innovation.”
Arvind Ramamurthy, chief market development officer at ADGM, affirmed the strategic advantages saying, “ADGM offers a robust regulatory framework and world-class infrastructure, making it an ideal hub for institutions like 100Unicorns to flourish. Their establishment further cements the UAE’s position as a global center for innovation and entrepreneurship, attracting significant capital into high-growth sectors.”
Looking ahead, Hanumantha Kumar Mannem, advisor of 100Unicorns, predicted, “India’s startup ecosystem is poised for tremendous growth. With over 100,000 startups today, by 2030, we anticipate the emergence of a million new startups and an additional 500 unicorns.”
“This phenomenal growth is driven by favorable government policies, a tech-savvy population, and rising investment inflows. While the US leads the global startup scene, India’s rapid advancement showcases its potential to become a formidable competitor on the world stage,” Aheeray elaborated.
With the new branding as 100Unicorns, Sharma is committed to nurturing at least 100 exceptional startups—soonicorns—guiding them into the billion-dollar realm in the coming decade. In their previous iteration, the accelerator funded startups from $300,000 to $1 million initially, followed by $500,000 to $2 million in later rounds, often alongside co-investors.
What sets 100Unicorns apart is not just the funding but a holistic suite of support, including mentorship, acceleration services, and strategic guidance tailored for startups from the ideation phase.
Since its launch in 2020, 100Unicorns has made significant strides in India’s startup narrative, investing in 145 companies, with six surpassing $200 million valuations and 30 exceeding $50 million within a mere three years. Their unique approach combines financial backing with access to a network of successful founders, industry experts, and global advisors, sparking growth for startups and delivering substantial returns for investors.
To tackle common concerns about investing in the Indian market, 100Unicorns has rolled out a comprehensive corporate governance framework, ensuring transparency and providing quarterly performance updates to enhance investor confidence.
A Staff Reporter
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