Unitus Seed Fund Raises $8 Million for BoP Startups
Bangalore: Unitus Seed Fund has raised investments over $8 million for its own seed-stage venture capital fund that completely focuses to accelerate "BoP startups". Bop (Base of Pyramids) startups are those new companies that serves low income consumers in India, reports DealCurry.com.
Unitus Seed Fund is a project of Unitus Labs and extensively dedicates itself to the Indian markets. This fund looks at investing in profit scalable companies that will generate economic self-reliance, education, and basic necessities to millions of low-income people in India living at Base of Pyramids in economic terms that is less than $4 a day.
This fund is been backed by Jeff Clark, Bob Gay (Former Huntsman-Gay and Bain Capital), Mike Murray (co-founder of microfinance pioneer, Unitus Labs), Vinod Khosla (Founder, Khosla Ventures and Khosla Impact), 500 Startups, and. Co-investors in India include T.V. Mohandas Pai (Chairman of Aarin Capital Partners), and Dr. Ranjan Pai (CEO of Manipal Education and Medical Group).
Unitus Seed Fund operates out of Bangalore and Seattle and plans to make 30-40 equity investments in India over the next four years. It was co-founded by Dave Richards and Will Poole and plans 10-12 investments per year going forward.
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