Unicorn India and Ascension Ventures Launch a Cross Border Fund
Unicorn India, a Mumbai based early stage VC has collaborated with British counterpart Ascension Ventures to launch a cross-border evergreen fund between two countries.
Dubbed as "Unicorn Ascension EIS Fund", it is an open-ended fund (Enterprise Investment Scheme)that aims to raise up to Rs. 45 crores ( £5 million approx) per year with investments at the pre-series A stage across 6-8 UK-based startups building products and services relevant to the Indian market.
An Enterprise Investment Scheme, abbreviated as EIS is a tax relief scheme offered by UK government that allows investors to avail income tax relief for their investments into small companies based in the UK.
Chair of the audit committee at Koovs and former partner at KPMG UK, Nina Amin will lead the investment committee f...