9Unicorns is founded by the Venture Catalysts (VCats) founding team including Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain.
The fund already backs over 75 home-grown start-ups in India including BharatPe, Beardo, PeeSafe and Fynd in which VCats was a seed-stage investor among others.
Sharma, who was also the angel investor in SoftBank-backed Oyo
Rooms said there has been no better time to bet on Indian entrepreneurs than today.
"We are witnessing a surge in start-ups who are focused on solving Indian and global problems born out of various parts of India. I anticipate the number of unicorns in India will grow 4x, from 36 today to over 140 in the near future."
In India, most of the start-ups struggle while raising the first round. They mostly depend on friends and family for capital. This is especially true when founders are not actively plugged into the investor network in Mumbai, Bengaluru and New Delhi.