On Friday, Acorns took over the investing world with the launch of its investment portfolio, Acorn Fund.
It is one of the first funds to be launched by an Indian unicorn, and the first of its kind in the world.
In a short video message, CEO Vishal Bhardwaj said, “We are taking a step towards becoming the global unicorn of investments.”
The fund is a mixture of investments from the Indian community, such as investments in companies such as Tata Group, Infosys, Infocomp, and Tata Nano.
Acorns aims to be a new investment bank for the Indian investment community.
The fund aims to become a platform for mutual funds, mutual funds that have been inactive for years, funds that invest in stocks and bonds and fund management companies like the Indian National Stock Exchange and Indus Capital.
Acorns has been incubating its funds in New York for more than a year.
“We have been working with Indian investors and are happy to introduce a platform to invest in Indian companies,” said Bhardwnaj.
The company will invest in companies like Tata Group and Infosy, which he said has been dormant for more years than they should have been.
“We have invested in companies that have not seen a lot of growth.
So, the fund is investing in companies with a lot growth potential,” he said.
The Acorns fund has been launched in New Jersey, where Acorns co-founder and founder Vijay Jain had lived since 2014.
“This is the first fund in the US to invest directly into Indian companies.
The fund is targeting US companies with an investment of up to $1bn.
It will invest into companies like Infosya, Tata Nano, and Infocorp,” he added.
The team at Acorns is also bullish on the stock market, with Jain stating that the fund believes that India is going to become the “next unicorn”.
He said, India’s stock market is currently at a “new low”, with investors looking to buy shares in private companies and institutional investors who have already taken a hold of stocks.
“The Indian government is very active in supporting investment in Indian-controlled companies.
We think that Indian companies will become the next unicorn.
The Indian economy is poised to become India’s biggest.
India has already overtaken the US in the number of companies listed on the S&P 500 Index,” Jain said.”
With Acorns Fund, we are investing in the largest institutional investors in the industry, such a private equity firm, private equity fund, and hedge fund.
We will also invest in institutional investors,” he continued.”
Our fund is structured to allow investors to invest at an affordable fee.
This means that Acorns investors will not pay an upfront capital raising fee, and we will charge an annual fee of Rs 10,000 to invest,” Jains added.
A note from the Acorns team stated that it has been working on the fund for more one year and will soon open its first fund at a large city in New Delhi.
“In India, investors have been waiting for an Indian investment fund that will invest directly in Indian investors.
Acorn is the best solution to bring the Indian investor into the investment market,” said the note.
The move by Acorns to invest exclusively in private equity and hedge funds is not new.
Acros fund is part of Acorns Accelerator programme, which was launched in January 2016.
Acrons accelerator program allows the company to invest up to Rs 10 lakh into Indian-owned companies and startups.
“As the largest unicorn in India, Acros Fund is looking to be the unicorn of Indian companies, and to be in the space of the unicorn for Indian investors,” the note said.