Uniqorn Ventures

Uniqorn Ventures is an early-stage, tech-focused venture capital firm founded in 2015 and based in Mumbai, India, established as the venture capital arm of the Mumbai investment bank and advisory firm o3 Capital. The fund invests primarily in seed-round Indian startups, writing tickets of roughly INR 2 crore to INR 4 crore, and its portfolio spans a broad set of sectors from consumer and retail to the gig economy, financial software, healthcare and information technology. It backs companies that have early traction and frequently co-invests alongside other Indian early-stage investors, with names such as Krishil Capital sharing a substantial part of its portfolio. As of its most active period, Uniqorn Ventures had invested in around eight companies, making six seed-stage investments at an average round size of about $593K and two Series A investments averaging roughly $7.25 million. Notable holdings include the casual-fashion brand Bewakoof, the online jewellery marketplace Velvetcase, the payments app Chillr, the doctor-network platform Docplexus and the corporate food-tech company TongueStun. The portfolio has produced several exits: TongueStun was acquired, its last disclosed exit in 2018, Chillr was acqui-hired, and Bewakoof was acquired in November 2022 by Aditya Birla's TMRW. The firm runs a lean team led by Managing Partner Shiraz Bugwadia, and its new-deal activity appears to have wound down after the late 2010s, leaving it largely a legacy seed portfolio. Backed by an investment-banking parent, Uniqorn Ventures focused on seed-stage Indian consumer, fintech and technology founders.