Unicorn India Ventures’ US expansion aimed at speeding up portfolio growth and exits

Early-stage venture capital firm Unicorn India Ventures’ (UIV) expansion to the US is meant to help its portfolio companies scale faster and access quicker exit opportunities, according to the firm's founder.

“We've done this for our portfolio companies, to provide them with propulsion for growth as well as connectivity with local businesses,” Bhaskar Majumdar, founder and managing partner at Unicorn India Ventures, told Mint in an interview. “Hopefully, we'll see a shrinking in exit timelines because this also provides them with new potential acquirers or potential M&As.”

UIV isn’t the only Indian VC firm to set up a base in the US, given fund managers’ long history of spending time there. While these visits were once about bringing Silicon Valley’s technology trends and insights back home, the push over the past 18 months has been driven by a desire not to miss out on the artificial intelligence boom playing out over 13,000 kilometres away.

While funds such as Nexus Venture Partners have maintained a long-standing presence there, others such as Peak XV and Z47 opened new US offices in 2026. Blume Ventures co-founder Sanjay Nath is also based out of San Francisco.

US strategy

However, unlike most Indian funds that have set up shop in the US, the firm's thesis remains firmly rooted in backing local founders in India. The US office is not designed to fund American startups, but to serve as a growth amplifier for Indian portfolio companies, Majumdar said. “It helps us bring in relevant co-investors in later rounds. In the US, there are funds that specialise in certain sectors, which makes it easier for some of our portfolio companies to raise money as well,” he added.

The firm’s US operations will also be more targeted, with local partner and recent hire Kishore Kanakamedala tasked with helping portfolio companies expand into the region and execute their go-to-market strategies.

Additionally, UIV serves as a funnel for US investors seeking reliable growth-stage investments “There's a large number of VCs sitting there who are interested in the India story. But they can't go and set up shop in India anymore. Those days are done and dusted,” said Majumdar.

However, for portfolio companies selling into the US market or tapping into its ecosystem through UIV's local partner, entering the US demands a much higher benchmark for performance and substantial revenues. “They'll have to mature. Founders here often pitch to funds saying we've reached $5 million in a few years. In the US, they'll think you meant $50 million and that you said $5 million by mistake. It's a learning curve for everybody,” Majumdar said.

While UIV announced its expansion into the US on 22 October, conversations around US funds backing existing portfolio companies began prior to that. Majumdar declined to comment on the specifics but said there would be announcements “shortly” regarding companies that it backed from its third fund.

Fund IV

For UIV, the move to the US is a natural progression, given that a third of its ₹1,200-crore ($135 million in 2025) third fund came from US-based limited partners. The firm is currently deploying capital from its fourth fund, a ₹1,000-crore vehicle with a ₹200-crore greenshoe option launched in partnership with IIT Madras and the IIT Madras Research Park. Fund IV marked its first close of ₹450 crore late in September.

Much like its previous funds, the focus is on frontier technologies including dual-use in space and defence, semiconductor design, nanotechnology and material sciences, biotech and quantum computing. The fund has already backed four startups from Fund IV:

• Hathor, a spacetech venture building specialized semi-cryogenic and cryogenic rocket engines;
• Quanstra, a quantum computing startup developing single-photon detection systems and advanced quantum instrumentation;
• Triolt Energy, which is developing high-performance lithium-ion battery cells; and
• Carbelim, which builds bio-integrated carbon capture and air purification systems.