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September 03, 2014

Fund Alert: Unitus Seed Fund received $7-M in addl commitments

Unitus Seed Fund has secured an additional $7 million in commitments for a total of $20 million for its India-focused Micro VC fund. New institutional investors include Michael & Susan Dell Foundation, Lemelson Foundation, Sorenson Impact Foundation, Deshpande Foundation, and Wadhwani Foundation. New individual investors include Amazon executive Diego Piacentini, Microsoft executives Soma Somasegar, Bharat Shah, Anoop Gupta and Nagesh Pabbisetty, Social Venture Partners leaders Todd Vogel and Lance Fors, financial services executive Geeta Aiyer, McKinsey executive Dilip Wagle, Concur Technologies CEO Steve Singh, and multiple others. Additionally, Unitus Seed Fund has raised commitments from India-based investors including T.V. Mohandas Pai (Formerly Infosys CFO), Dr. Ranjan Pai (CEO of Manipal Education and Medical Group), Hemendra Kothari (DSP Blackrock), Pramod Saxena (Oxigen), Hema Hattangady (Conzerv/Schneider), Ananda Kallugadde (Neobytes), Rajeev Bakshi (METRO Cash & Carry), Ravi Venkatesan (Infosys, Microsoft, Cummins) and Srikanth Iyer (Pearson, Edurite). 

The funds will be invested in early-stage startups operating in India in sectors including healthcare, education, agriculture, skill development/livelihoods, technology and basic necessities. Unitus Seed Fund has already announced 13 investments in India. 

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