Dubai – Sharikat Mubasher: 100Unicorns, India’s largest early-stage accelerator and venture capital (VC) fund, has marked its first international expansion by opening an office in Abu Dhabi Global Market (ADGM), the city’s international financial center.
Driven by the UAE’s strategic position as a gateway to the MENA region, 100Unicorns seeks to establish a robust cross-border corridor between India and the region, according to a recent press release. This initiative aims to foster startup investments, provide acceleration and incubation opportunities, and strengthen the India-UAE startup ecosystem.
Apoorva Ranjan Sharma, Managing Director and Founder of 100Unicorns, said, "We are pleased to establish our office in the UAE. It is a significant milestone in our journey to bring the best of India’s vibrant startup ecosystem to global investors. By establishing our fund within ADGM, we aim to open doors for MENA investors to access high-growth opportunities in India with the assurance of top-notch corporate governance and transparency."
Manoj Aheeray, Global Partner & SEO with 100Unicorns, said, “ADGM's proactive support and world-class regulatory framework have been instrumental in facilitating 100Unicorns’ launch in the UAE, providing the guidance and resources necessary to integrate seamlessly into the region’s financial and business ecosystem. Our foray into this market not only aligns with our growth strategy but also strengthens the historic ties between India and the UAE, fostering cross-border collaboration and innovation.”
Arvind Ramamurthy, Chief Market Development Officer at ADGM, stated, " ADGM’s robust regulatory framework, world-class infrastructure, and strategic positioning create an ideal environment for financial institutions like 100Unicorns to thrive. The establishment of 100Unicorns highlights the increasing flow of capital into high-growth sectors, reinforcing the UAE's status as a global hub for innovation and entrepreneurship.”
The expansion into the MENA region will prove significant for the Indian startup economy which has recorded a 15-fold jump in startup funding between 2015 and 2022.
