100Unicorns targets $200M fund as it eyes MENA investment opportunities

100Unicorns, an early-stage VC fund, has opened its first foreign market office in Abu Dhabi, UAE, marking its strategic position as a gateway to the MENA region.

The fund aims to create a curated cross-border corridor between India and the UAE, facilitating startup investments, acceleration, incubation, and further development of the Indian and UAE startup ecosystem.

"We are pleased to establish our office in the UAE. It is a significant milestone in our journey to bring the best of India’s vibrant startup ecosystem to global investors. By establishing our fund within ADGM, we aim to open doors for MENA investors to access high-growth opportunities in India with the assurance of top-notch corporate governance and transparency," Apoorva Ranjan Sharma, MD and Founder of 100Unicorns, said in a statement.

Formerly known as 9Unicorns, 100Unicorns was launched in 2020 to support over 50 category leaders and now targets a $200 million fund.

With its rebranding, it aims to develop 100 high-potential startups into billion-dollar companies within a decade. Previously, it offered funding of $300,000 to $1 million per startup in initial rounds, followed by $500,000 to $2 million with co-investors.

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100Unicorns is an accelerator and venture capital fund that focuses on early-stage startups, offering capital access, strategic mentorship, and a network of founders, industry veterans, and global advisors.

"ADGM’s robust regulatory framework, world-class infrastructure, and strategic positioning create an ideal environment for financial institutions like 100Unicorns to thrive. The establishment of 100Unicorns highlights the increasing flow of capital into high-growth sectors, reinforcing the UAE's status as a global hub for innovation and entrepreneurship,” Arvind Ramamurthy, Chief Market Development Officer at ADGM, stated.

Since its inception in 2020, it has funded 145 startups, including category leaders like Shiprocket, VideoVerse, Zypp Electric, and Renee Cosmetics. The fund has helped six startups reach valuations over $200 million and 30 exceed $50 million in just three years.