54 portfolio start-ups cross $50-mn valuation: Venture Catalysts
Venture Catalysts Group (Vcats++), an investor for early to growth stage start-ups, has announced that about 54 of its portfolio start-ups have crossed $50 million valuation this year.
Despite challenging times that led to a 70% decline in funding this year, Venture Catalysts said its portfolio grew substantially, housing more than 133 entities.
“The individual valuations of atleast two dozen companies have crossed $100 million with and about three start-ups – Shiprocket, BharatPe and Vendantu have attained Unicorn status in the last one year,” the firm said.
‘The valuations assumes importance at a time when the fears around a possible funding winter continues to spook investors and start-ups not only in India but worldwide too,” said Apoorva Ranjan Sharma, co-founder Venture Catalysts Group.
“It talks volumes about the growth and up-rounds of the portfolio companies. Most of our portfolios have done extremely well in the last two years and we see at least 3-4 turning Unicorns next year,” he added.