India, Feb. 4 -- Early-stage focussed VC firm Unicorn India Ventures has reached the final close of its third fund at INR 1,200 Cr, exceeding its initial target of INR 1,000 Cr post exercising a green shoe option of INR 200 Cr. The capital for the fund has been netted from limited partners (LPs) such as SIDBI, SBI, along with undisclosed US-based investors, Indian UHNIs and family offices.

Cofounder and managing partner Bhaskar Majumdar told Inc42 that the firm has already backed 17-18 startups through the fund, with an average ticket size of INR 10-15 Cr each. As of now, the firm has about three more investments at various stages of completion in the pipeline.

Of the total corpus, around 20-25% (roughly INR 250 Cr) will be deployed tow...