Unicorn India Ventures PMS Review: AUM, Structure & Key Facts (2026)
Unicorn India Ventures PMS is the listing on PMS Bazaar for Unicorn India Ventures LLP (UIV), a Mumbai-based venture capital firm. As of 15 September 2026, per PMS Bazaar, UIV reported an AUM of ₹91.02 crore across 48 clients; the number of investment approaches is shown as NA.
UIV is different from most firms on PMS Bazaar. It describes itself as a SEBI-registered AIF venture capital firm, and the registration number on its profile is an AIF registration rather than a portfolio manager (INP) number. There are no listed PMS strategies or returns, so this article focuses on what is known about the firm and what investors should verify.
Unicorn India Ventures PMS is the listing on PMS Bazaar for Unicorn India Ventures LLP (UIV), a Mumbai-based venture capital firm. As of 15 September 2026, per PMS Bazaar, UIV reported an AUM of ₹91.02 crore across 48 clients; the number of investment approaches is shown as NA. UIV is different from most firms on PMS Bazaar. It describes itself as a SEBI-registered AIF venture capital firm, and the registration number on its profile is an AIF registration rather than a portfolio manager (INP) number. There are no listed PMS strategies or returns, so this article focuses on what is known about the firm and what investors should verify. Quick Facts: Unicorn India Ventures PMS Portfolio Manager Unicorn India Ventures LLP SEBI Registration No. IN/AIF2/17-18/0506 (an AIF registration, as listed) PMS AUM ₹91.02 crore (as on 15 September 2026) Number of Clients 48 (as on 15 September 2026) Investment Approaches Not reported (NA) Key People Bhaskar Majumdar and Anil Joshi (Founders) Registered Office Mumbai (Powai) Minimum Investment ₹50 lakh for a PMS (SEBI minimum); AIF investments carry a separate ₹1 crore minimum About Unicorn India Ventures Unicorn India Ventures was launched in 2016 by Bhaskar Majumdar and Anil Joshi and is headquartered in Powai, Mumbai. It invests in early and next-stage, technology-led start-ups, and positions itself as a partner that supports founders with strategic capital and resources to help them grow. The firm also cites a CRISIL ranking of Indian VC funds in its profile; investors should review the underlying report for its scope and date. Because UIV's business is venture capital through an Alternative Investment Fund (AIF) structure, the reported AUM and client figures should be read in that context. The listed registration, IN/AIF2/17-18/0506, follows SEBI's format for a Category II AIF. Venture capital investments in unlisted start-ups behave very differently from a listed-equity PMS: they are illiquid, typically locked in for several years, and valued periodically rather than daily. The PMS Bazaar profile does not list individual portfolio managers or describe a PMS investment philosophy, so investors should ask the firm directly about the investment team, fund structure and any PMS offering. Unicorn India Ventures PMS Strategies and Performance No PMS investment approaches or returns are listed on Unicorn India Ventures' PMS Bazaar profile as of 15 September 2026. Performance data is therefore not publicly reported on the platform. For a venture capital AIF, performance is usually measured differently, for example through IRR and multiples of invested capital at the fund level, and becomes meaningful only after several years as portfolio companies mature or are exited. Investors interested in UIV should request the Private Placement Memorandum, the latest fund-level performance report and the valuation policy, and compare them with other venture capital funds rather than with listed-equity PMS strategies. How to Read These Numbers With no strategy returns on the profile, the key numbers are the AUM of ₹91.02 crore and the 48 clients as of 15 September 2026. These are platform-reported figures and are not verified by SEBI. When an AIF does share performance, investors should understand the method used. Time-Weighted Rates of Return (TWRR), the standard for PMS, are less common for venture funds, where money is drawn down in stages and returned as exits happen. Fund-level numbers are also gross of investor-specific taxes, and early-stage portfolios are typically concentrated, with a few winners driving most of the outcome. Who Unicorn India Ventures PMS May Suit Investors who specifically want exposure to early and next-stage Indian technology start-ups and can commit capital for many years. Investors who meet AIF eligibility norms and can tolerate illiquidity and a wide range of outcomes. Those building a diversified alternatives allocation alongside listed-equity PMS or mutual funds. It may not suit investors looking for a listed-equity PMS with a reported strategy track record, anyone who may need liquidity, or those uncomfortable with the high failure rates typical of start-up investing. Fees, Minimum Investment and Taxation The minimum investment in Unicorn India Ventures PMS, as in any SEBI-registered PMS, is ₹50 lakh, which can be brought in as cash, as existing securities, or a combination of both. Portfolio managers typically offer a choice of fee structures: a fixed management fee, a hybrid of a lower fixed fee plus a performance share, or a performance-linked fee charged only above a hurdle rate. The exact fee schedule, exit load and other charges are in the Disclosure Document, which investors should read before signing the Client Agreement. In a PMS, the securities sit in a demat account held in the investor's own name, which offers transparency but also means every trade is a taxable event for the investor. For listed equity, short-term capital gains are taxed at 20% and long-term capital gains at 12.5% above the annual ₹1.25 lakh exemption. Debt and other asset classes follow their own rules. For a step-by-step explainer, see how PMS onboarding, funding, taxation and exit work (/insights/how-pms-works-onboarding-funding-taxation-exit) . Money n Wealth's View Unicorn India Ventures has a defined niche in venture capital, an operating history dating back to 2016, and named founders. It is, however, not a conventional PMS on the available data: there are no listed investment approaches or returns, and the registration shown is an AIF registration. What to watch: investors should verify the exact product being offered, its SEBI registration category, minimum investment, lock-in and fees before committing. Comparing it with listed-equity PMS houses is not like-for-like. See India's largest PMS players by AUM (/insights/pms-players-in-india-aum-vintage) for the listed-equity landscape, or speak with our team (/contact) to understand the differences between PMS and AIFs. Frequently Asked Questions Is Unicorn India Ventures PMS good? There is no PMS strategy performance on its PMS Bazaar profile as of 15 September 2026, so it cannot be judged on PMS returns. UIV is a venture capital AIF, and should be evaluated on its fund-level track record and suitability for illiquid start-up investing. What is the minimum investment in Unicorn India Ventures PMS? For any SEBI-registered PMS the minimum is ₹50 lakh, while SEBI sets a separate ₹1 crore minimum for most AIF investors. Investors should confirm the minimum applicable to the specific UIV product offered. Which is the best Unicorn India Ventures PMS strategy? No PMS investment approaches are listed on its profile, so there is no strategy comparison to make. Investors should ask the firm which funds or schemes are currently open. Who manages Unicorn India Ventures? Unicorn India Ventures was launched in 2016 by Bhaskar Majumdar and Anil Joshi. The PMS Bazaar profile does not list individual portfolio managers. Is Unicorn India Ventures registered with SEBI? Its profile lists SEBI registration number IN/AIF2/17-18/0506, which is an Alternative Investment Fund registration. Investors should verify the registration and category on SEBI's website. Disclaimer: This article is for general informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer/solicitation to invest in any security or PMS strategy. Portfolio Management Services are subject to market risks; please read the Disclosure Document and Client Agreement carefully before investing. AUM, client and performance figures cited are as reported by Unicorn India Ventures to PMS Bazaar and in other public disclosures as of 15 September 2026, are calculated using the Time-Weighted Rate of Return method, are not verified by SEBI, and individual client returns may vary. Past performance is not indicative of future returns. Strategies, fees and figures may change without notice and should not be construed as a recommendation to buy or sell. Money n Wealth (Predics Fintech Services Pvt Ltd) is an AMFI-registered Mutual Fund Distributor (ARN-121995) and APMI-registered PMS Distributor (APRN-07444); this is not a SEBI-registered investment advisory service. Please consult your financial advisor before making investment decisions.
