India-based venture capital firm White Unicorn Ventures has closed its first fund at $20m, securing capital from limited partners including real estate developer Lakshachandi Realty, LiveMint reported on Monday.
White Unicorn founder Rohit Chokhani is on the board of directors of Lakshachandi Realty, which together with another of the Chokhani family’s businesses committed $10m to the fund. The other half was provided by an undisclosed Singaporean sovereign wealth fund.
The firm began investing in May 2016 and has since supplied almost $5m to a total of 16 startups including car rental platform JustRide, dating app developer Aisle and property asset management software provider Azuro. It generally invests between Rs 5m to Rs 30m ($80,000 to $470,000) at a time.