<article>Bengaluru and Seattle-based seed stage investor <a style="color: #000080;" href="http://dealstreetasia.com/tag/unitus">Unitus Seed Fund</a> is launching a second India-focussed fund of $50 million aimed at investing in 50 companies, according to a Times of India <a style="color: #000080;" href="http://timesofindia.indiatimes.com/tech/tech-news/Unitus-launches-second-fund-of-50-million-to-fund-50-startups/articleshow/51976716.cms">report</a>.</article>

Bengaluru and Seattle-based seed stage investor <a style="color: #000080;" href="http://dealstreetasia.com/tag/unitus">Unitus Seed Fund</a> is launching a second India-focussed fund of $50 million aimed at investing in 50 companies, according to a Times of India <a style="color: #000080;" href="http://timesofindia.indiatimes.com/tech/tech-news/Unitus-launches-second-fund-of-50-million-to-fund-50-startups/articleshow/51976716.cms">report</a>.
Unitus expects to get the first tranche of the new fund by the third quarter of the calendar year.
Its first fund of $23 million, which is almost fully deployed, was established in 2012 and had attracted investors including Gates Foundation, Ranjan Pai, <a style="color: #000080;" href="http://dealstreetasia.com/tag/mohandas-pai">Mohandas Pai</a> and others. Most of the participants in the first fund are also expected to invest in the second fund.
According to the report, the new fund will be raised from existing investors with increased proportion from the Indian investors who had contributed one-third of the first round.
The fund invests in startups based on their potential impact in sectors like education, healthcare, fintech and agriculture. Unitus has invested in startups including <a style="color: #000080;" href="http://dealstreetasia.com/tag/driveu">DriveU</a>, Hippocampus, Blowhorn, iBreastExam, Jack on Block, Labinapp, and BetterPlace among others.
&#8220;At a time when there is a pullback by some investors, it is important that we have money to help our companies survive with follow-on funding,&#8221; Will Poole, co-founder and managing partner of Unitus, told Times of India.
He said that eight of Unitus&#8217; portfolio companies have raised Series A funding, two have raised Series B and one startup is about to raise Series C investment. &#8220;In good companies, we plan to participate in follow on fund raising as well,&#8221; Poole said.
Recently, another early stage investor Deepak Shahdadpuri-led investment firm <a style="color: #000080;" href="http://dealstreetasia.com/tag/DSG">DSG Consumer Partners</a> made the first close of its second fund at $35 million, with 40 per cent participation from its existing investors.
Also, Patni scions Amit and Arihant Patni along with Aarin Capital‘s Rajan Pai and T V Mohandas Pai; and Sasken Technologies CMD Rajiv Mody have together floated a Rs 125-crore (around $19 million) fund, called <a style="color: #000080;" href="http://dealstreetasia.com/tag/ideaspring-capital">Ideaspring Capital</a>, to back domestic product startups.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/29276-29276/">India: Unitus names former Mckinsey veteran Aditya Sharma as venture partner</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/unitus-seed-fund-expands-starthealth-investing-initiative-12480/">Unitus Seed Fund expands StartHealth investing initiative</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-driveu-raises-1m-from-unitus-seed-fund-silicon-valley-angel-investors-32499/">India: DriveU raises $1m from Unitus Seed Fund, Silicon Valley angel investors</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/37543-37543/">Early stage investor DSG Consumer gets backing for larger rounds in Fund II: Deepak Shahdadpuri</a>
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Bengaluru and Seattle-based seed stage investor Unitus Seed Fund is launching a second India-focussed fund of $50 million aimed at investing in 50 companies

India: Unitus Seed Fund launches second India-focussed fund of $50m

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India: Unitus Seed Fund launches second India-focussed fund of $50m

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