100Unicorns Expands into the MENA Region with New Office in Abu Dhabi Global Market
100Unicorns, India’s venture capital firm for business accelerators, has announced its expansion into the Middle East and North Africa (MENA) region, opening its first international office in Abu Dhabi Global Market (ADGM).
Previously known as 9Unicorns, the firm was relaunched in 2020 with the aim of creating over 50 startups in the market, targeting a fund of $200 million to support its ambitious plans.
100Unicorns seeks to create a cross-border investment corridor between India and the UAE by enhancing investments in startups, business incubators, accelerators, and fostering developmental collaboration between the innovation ecosystems in both countries.
Dr. Apurva Ranjan Sharma, Managing Director and Founder of 100Unicorns, stated, “This expansion is a significant step in bringing India’s dynamic startup ecosystem to global investors. By establishing our fund in Abu Dhabi Global Market, we provide investors in the MENA region access to high-growth opportunities in India while ensuring the highest standards of governance and transparency.”
Manoj Ahirai, Global Partner at 100Unicorns, said the fund proactively and strategically supports ADGM, ensuring seamless integration into the region’s financial and commercial systems. He emphasized that this expansion strengthens the historic ties between India and the UAE and fosters cross-border innovation.
Arvind Ramamoorthy, Head of Market Development at ADGM, affirmed that ADGM is an ideal environment for financial institutions like 100Unicorns, solidifying the UAE’s position as a global hub for innovation and entrepreneurship.
India has witnessed tremendous growth in its startup ecosystem, with over 100,000 startups as of 2024, including 111 unicorns valued at a total of $350 billion.
Projections suggest this number will rise to one million startups and 500 unicorns by 2030, driven by supportive government policies, a tech-savvy population, and increasing investment flows.
The expansion into the MENA region is expected to significantly boost India’s startup ecosystem by attracting foreign investment and driving innovation.
With India’s startup funding growing 15-fold between 2015 and 2022, this move will accelerate growth even further.
By establishing transparent governance frameworks and providing regular performance reports, 100Unicorns addresses key investor concerns, paving the way for sustainable success both in the region and beyond.
The expansion highlights 100Unicorns’ commitment to building a strong global network for startups, enabling cross-border collaboration and driving innovation in emerging markets.
