Early-stage accelerator fund 9Unicorns has undergone a significant transformation. It has announced the launch of its second fund and a complete rebranding. Henceforth, 9Unicorns will be known as 100Unicorns.
100Unicorns, which operates under the umbrella of the multistage investing firm Venture Catalysts Group, has unveiled its second accelerator fund, 100Unicorns Fund II. This new fund has a target size of $200 million and a green-shoe option of $100 million.
Under its previous identity as 9Unicorns, the fund invested in several promising startups, such as Videoverse, Trunativ, ZyppElectric, Renee Cosmetics, and IGP, through its first fund, 100Unicorns Fund I.
100Unicorns’ investment strategy typically involves funding ranging from $300,000 to $1 million per startup in the initial round, coupled with comprehensive support in product development, business strategy, and fundraising. Subsequent rounds see investments ranging from $500,000 to $2 million, often in collaboration with co-investors.
Highlighting its contribution to the startup ecosystem, 100Unicorns mentioned initiatives like DDay and ProStar, which have acted as catalysts for over 80 startups. These startups have secured approximately $400 million in funding, demonstrating the significant impact of 100Unicorns’ support.
With the launch of its new fund, 100Unicorns aims to bolster its efforts in nurturing startups. Its vision is to cultivate a pool of 200 outlier startups over the next decade. The ultimate goal is to propel these startups into the billion-dollar club, further solidifying their global market position.
The rebranding to 100Unicorns reflects the fund’s ambition to expand its reach and support even more startups on their journey to becoming unicorns – startups valued at over $1 billion. With its enhanced resources and renewed focus, 100Unicorns is poised to significantly impact the startup landscape, fostering innovation and driving economic growth.
