Japan-based SoftBank Investment Advisers and US-based JP Morgan have hosted a meeting between large mutual fund houses and 10 unicorns, including Swiggy, and Unacademy, which are keen on going public within three years. The meetings held on August 3 and 4 held in Bengaluru in which Mamaearth, Lenskart, Acko, Meesho, ElasticRun and InMobi also participated.

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“Indian public asset managers, with USD 250 billion under management, met with the leadership of unicorn startups that are eyeing a possible stock market listing in the next 2-3 years. The first such interaction, hosted by SoftBank and JP Morgan, was aimed at building a better rapport between domestic mutual funds and startups well ahead of the latter’s IPO plans,” the media reported.

Fourteen Domestic Institutional Investors (DIIs) such as HDFC MF, Axis MF, Mirae, ICICI Prudential MF and UTI flew down to Bengaluru for the meeting, also added.

“The meeting was basically to help unicorns better understand public market investors,” media reported.

The interaction also comes when some early digital IPOs (Initial Public Offerings) such as Zomato and Paytm have come under pressure following a steep fall in stock price. The market values of listed digital startups have fallen sharply globally, too, tracking inflationary pressures and rising interest rates.