- Fund I and Fund II housed 24 startups in 2020
- Sectors in focus for 2021 are jobtech, fintech and healthcare
Bengaluru: Leading early stage venture fund Unitus Ventures has published its 2020 Annual Impact Report. The report highlights the social, financial and ecosystem impact its portfolio companies generated through a challenging year that has accentuated the importance of meaningful business solutions for the future.
Under social impact parameters, the portfolio companies touched close to 12.2 million bottom-of-the-pyramid lives in 2020, an increase of 34% from 8.9 million in 2019. The cumulative revenue improved by 26% through 2020, at USD 141 million. Jobtech, fintech and healthcare remained the key sectors driving these numbers.
Will Poole, Managing Partner, Unitus Ventures, said, “The pandemic-ridden year taught us that only companies with decisive leaders survive. Our portfolio companies not only survived but also found new paths of growth through the challenging times. With prompt business decisions driven by a fierce problem-solving attitude and deployment of cutting-edge technology, they recovered revenue while increasing their impact.” He adds, “Out of the many gaps that were exposed during the pandemic, the biggest was that of unemployment, especially in the lower socio-economic income population. In this category,
Unitus-backed jobtech companies grew their impact by 64% to 9.6 million lives, creating opportunities and upscaling skills for a future-ready workforce.”
Surya Mantha, Senior Partner, Unitus Ventures, said, “The downturn in the economy had a disproportionate impact on the poor and marginalized. In the past few years, we had invested heavily in three critical sectors – jobtech, fintech and healthcare. The pandemic highlighted the importance of paid work, cash in the pockets to run households and small businesses, and access to affordable healthcare. Our investments across two funds have underscored the importance of skilling and job creation for the Indian economy. We continue to deepen our understanding of, and insight into this defining challenge for India over the coming decade. Our goal is to be able to identify and support innovators and entrepreneurs who are using technology and business principles to address this problem at scale.”
Some highlights from the report:
- Invested in 24 companies (new and existing)
- Out of the 24 companies, 54% are in jobtech, 25% in fintech and 21% in healthcare
- 8 exits
- 17 received follow-on funding
Unitus Ventures is one of the few firms in India that has aligned and measured its impact with the UN Sustainable Development Goals (SDGs). The goals that Unitus focuses on include ensuring good health and well-being, ending poverty and providing quality education for all. Each of these goals is measured under various parameters. Aimed at sustainable development, these goals are a universal call to action for ending poverty and protecting the planet. Unitus Ventures measures impact under three primary parameters – social, economic and ecosystem.
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 at: https://unitus.vc and http://capria.vc/network