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The worlds of cricket and showbiz often collide, not just in glamorous parties and power couples, but also in the business realm. Many cricket legends and Bollywood stars have ventured into the startup ecosystem, leveraging their star power as angel investors. Start-ups that achieved unicorn status in India, fueled by celebrity investments, have exceeded 110, according to Tracxn data as of December 21, 2023.
Celebrity Investment Landscape
Data reveals that celebrities show a strong preference for investing in B2C e-commerce and internet-first brands. Mumbai and Bengaluru emerge as hotspots for such investments, with a significant number of successful startups originating from these cities.
Six Celebrity-Backed Unicorns
Several celebrity-backed startups have achieved unicorn status, reaching valuations exceeding USD 1 billion. Let’s delve into six notable success stories:
- Upstox
- Investor: Shikhar Dhawan
- Description: Investment platform certified by SEBI.
- Unicorn Status: Achieved in November 2021, valuation over USD 3 billion.
- Spinny
- Investor: Sachin Tendulkar
- Description: Online used-car retailing platform.
- Unicorn Status: Attained in November 2021, valuation of USD 1.8 billion.
- MyGlamm
- Investor: Shraddha Kapoor
- Description: Online makeup brand (now The Good Glamm Group).
- Unicorn Status: November 2021, valuation USD 1.2 billion.
- MPL (Mobile Premier League)
- Investor: Virat Kohli
- Description: Online gaming platform.
- Unicorn Status: September 2021, valuation USD 2.3 billion.
- Digit Insurance
- Investors: Anushka Sharma and Virat Kohli
- Description: Digital insurance company.
- Unicorn Status: First of 2021, valuation USD 1.9 billion.
- Cars 24
- Investor: Mahendra Singh Dhoni
- Description: Deals in sale, purchase, and financing of pre-owned cars.
- Unicorn Status: November 2020, valuation over USD 1 billion.
Unicorn Company Definition
The term “unicorn” was coined by venture capitalist Aileen Lee in 2013. A privately-held startup earns the unicorn title when it achieves a valuation exceeding USD 1 billion.
Understanding Angel Investors
Angel investors are private individuals with a high net worth who finance small business ventures in exchange for equity. Unlike venture capital firms, angel investors use their personal funds for these investments. Their involvement can range from a one-time monetary injection to ongoing financial support, and they often play an active role in the businesses they back.
Celebrity Investment Statistics
According to Tracxn data, Sachin Tendulkar has invested in nine start-ups, Suniel Shetty and Virat Kohli in eight each, Shilpa Shetty in seven, and Aishwarya Rai Bachchan, Amitabh Bachchan, and Shraddha Kapoor in six each. Anushka Sharma has invested in five start-ups. Notably, actor and cricket presenter Gaurav Kapur leads the pack with investments in 19 start-ups.