- Portfolio companies in the jobtech space impacted a massive 11.6 million botton-of-pyramid (BoP) lives.
- Raising a jobtech, fintech and enterprise tech focused fund III in 2023.
Bengaluru, August 24, 2022: Unitus Ventures recently released its Annual Impact Report 2021, underlining a healthy boost for the jobtech, fintech, and healthcare sectors despite market challenges. Amidst the global pandemic and economic slowdown, the report highlights the social, financial, and economic impact enabled by the venture fund’s diverse portfolio companies through 2021. Based on the report, Unitus’ portfolio has impacted 14.8 million bottom-of-pyramid (BoP) lives, a healthy 21% increase from 2020.
Highlights from the report
- Unitus’ jobtech portfolio companies record the highest impact, touching 11.6M bottom-of-pyramid (BoP) lives, as compared to fintech and healthtech portfolio’s 1.7M and 1.6M lives, respectively.
- The company has positively impacted 1.3M women through job creation, livelihood generation, financial support, and skill development.
Surya Mantha, Managing Partner, Unitus Ventures, says,
“2021 presented the potential of the Indian startup ecosystem to the world, churning out back-to-back unicorns and “soonicorns” despite the pandemic”.
Amidst the venture funding highs and pandemic-induced lows, Unitus stood by its portfolio companies to drive growth, scale, and impact creation. Our annual impact report testifies to this story, where our portfolio demonstrated healthy unit economics and impact generation. From our earliest investments to today, we continue to pursue investment opportunities that ensure economic advancement for people who need it the most.”
India’s job market is currently undergoing challenges, reflected in the shrinking LFPR (Labor Force Participation Rate), among other metrics. According to CII, India will not be able to capitalize on its demographic dividend if the country does not generate sufficient numbers of jobs in the next decade. This underscores the need for tech-based solutions that will help jobseekers skill, upskill and reskill to find the right employment opportunities. Companies such as Awign, Betterplace, DriveU, Blowhorn, Gigforce, Masai School, CareerNinja, Wify, and Bandhoo Solutions, address India’s longstanding issues of connecting workers with opportunity, and employability, with their tech-driven innovations.
According to the report, Unitus Ventures’ jobtech portfolio has positively impacted 11.6M BoP lives, boasting a 21% increase from 2020.
Unitus continues to support its companies to maximize profits and impact. The firm also ensures its impact aligns with the UN Sustainable Development Goals (SDGs). These goals are a universal call to action for inclusive economic growth and development. In keeping with the SDGs, Unitus Ventures measures impact under three primary parameters – social, economic, and ecosystem. In particular, Unitus focuses on democratizing access to well paying jobs, affordable and high quality education, financial services and healthcare, to build an inclusive society.
About Unitus Ventures
Unitus Ventures is the leading venture fund in India that supports early stage fintech, healthcare, and jobtech startups with India scale and global potential. Launched in 2012, Unitus Ventures is a founding member of Capria Network, the leading global network of emerging market fund managers collaborating to deliver superior returns and scaled impact. Unitus Ventures is based in Bangalore and Seattle. Capria has offices in Bangalore, Singapore, Nairobi, and Seattle. More about Unitus and Capria.