Unicorn India Ventures launches US operations with ex-Google executive Kishore Kanakamedala
The Mumbai-based venture firm has appointed former Google executive Kishore Kanakamedala as venture partner to anchor its expansion into global markets.
Unicorn India Ventures has launched operations in the United States and appointed former Google executive Kishore Kanakamedala as venture partner to help Indian deep-tech startups expand internationally.
The move comes as India's deep-tech ecosystem experiences rapid growth, supported by national policy initiatives, premier academic institutions, and improving access to global risk capital. Under Kanakamedala's leadership, the Mumbai-based venture firm plans to build a team of operator-investors in the US to establish local industry networks and assist portfolio companies with market entry and scaling.
The US expansion follows rapid progress on the firm's domestic fundraising front. Unicorn India Ventures recently achieved the first close of the IITM Unicorn Frontier Fund I at ₹450 crore within three months of regulatory approval. Established in strategic partnership with IIT Madras and IIT Madras Research Park, the SEBI-registered fund has a total target corpus of ₹1,000 crore. This follows the closure of the firm's third fund of ₹1,200 crore earlier this year, which saw strong demand from American institutional investors keen to participate in India's technology ecosystem.
Kanakamedala said India is rapidly solidifying its reputation as a global deep-tech hub as product-led companies emerge with strong intellectual property. His mandate includes backing founders solving high-impact engineering challenges, building US investor networks, and providing the India-based investment team with continuous insights into global technological developments.
Founded in 2016, Unicorn India Ventures manages approximately $350 million across its funds and typically invests between ₹10 crore and ₹25 crore in early-stage ventures. It has backed 54 companies across strategic sectors such as semiconductors, space, defence, robotics, healthcare, and agritech.
Unicorn India Ventures fund overview
| Fund | Target Corpus | Recent Milestone | Key Focus |
|---|---|---|---|
| Fund III | ₹1,200 crore | Closed earlier this year | Early-stage Indian deep-tech ventures |
| IITM Unicorn Frontier Fund I | ₹1,000 crore | First close at ₹450 crore | IIT Madras research and IP-backed startups |
The firm's expanding portfolio includes high-tech innovators such as Netrasemi, Vervesemi, TakeMe2Space, EyeROV, and Genrobotics. By establishing a direct bridge between India and the United States, Unicorn India Ventures aims to help these domestic innovators achieve commercialisation while reinforcing India's status as a leader in global technological innovation.
Key numbers
| What | Figure | Source |
|---|---|---|
| Total Assets Under Management | $350 million | Unicorn India Ventures |
| Portfolio Companies Backed | 54 | Unicorn India Ventures |
| IITM Unicorn Frontier Fund I First Close | ₹450 crore | Unicorn India Ventures |
| IITM Unicorn Frontier Fund I Target Corpus | ₹1,000 crore | Unicorn India Ventures |
| Fund III Corpus | ₹1,200 crore | Unicorn India Ventures |
| Typical Cheque Size | ₹10 crore to ₹25 crore | Unicorn India Ventures |
In this story
| Name | Role in the story |
|---|---|
| India | Home base of deep-tech startups backed by the fund. |
| United States | Target market for expansion and capital sourcing. |
| Kishore Kanakamedala | Former Google executive appointed as Venture Partner. |
| Unicorn India Ventures | Mumbai-based venture capital firm expanding to the US. |
