Mirae Asset's New Fund in India: $150M Raised in First Closing
Mirae Asset's new fund in India, Mirae Asset Venture Opportunity Fund II, has raised $150M in its first closing. Learn more about the fund's focus and objectives.
LazyFounders
30 SEC SUMMARY
Mirae Asset's new fund, Mirae Asset Venture Opportunity Fund II, has successfully raised $150 million in its first closing. The fund aims to support early growth-stage startups in India, focusing on technology, AI, software, and advanced manufacturing sectors.
TABLE OF CONTENTS
KEY HIGHLIGHTS
- Mirae Asset Venture Opportunity Fund II raised $150M in its first closing.
- The fund targets early growth-stage startups in technology and manufacturing sectors.
- Mirae Asset aims to provide strategic partnerships and long-term support to Indian startups.
- The fund is part of Mirae Asset's broader Unicorn Growth Fund initiative.
Introduction
In a significant move for India's startup ecosystem, Mirae Asset Financial Group's venture capital arm, Mirae Asset Venture Investments (MAVI), has successfully closed its new fund, Mirae Asset Venture Opportunity Fund II (MAVOF II), raising $150 million in its first closing. This fund marks MAVI's third dedicated private fund focused on India, aiming to support early growth-stage startups with substantial growth potential.
Fund Details
The total target for MAVOF II is $281 million. This fund is part of a larger initiative by MAVI to bolster India's startup landscape by addressing the significant funding gap between Series B and Series D rounds. MAVI has been actively investing in Indian startups for the past eight years, with notable investments in companies like Shadowfax, Raise (Dhan), and KreditBee.
Investment Focus
MAVOF II will focus on sectors such as technology platforms, AI and software, deep tech, advanced manufacturing, and consumer discretionary. Mirae Asset believes these sectors hold the potential to shape the next phase of India's economic growth.
Strategic Partnerships
MAVI aims to provide more than just growth capital to Indian startups. The fund will offer strategic partnerships, access to international markets, and long-term institutional support. This holistic approach is designed to help startups scale effectively and sustainably.
CEO Insights
Punit Kumar, CEO of Mirae Asset Venture Investments India, highlighted the critical need for growth capital in the Indian startup ecosystem. He emphasized the fund's objective to partner with founders at a pivotal stage, helping them build large, sustainable companies. Kumar joined MAVI from Steadview Capital earlier this year, bringing extensive experience to the role.
Global Network
Leveraging its global network, Mirae Asset aims to extend its support beyond just financial backing. The company plans to provide Indian entrepreneurs with strategic partnerships, market access, and institutional support, fostering a robust ecosystem for startup growth.
Unicorn Growth Fund
MAVOF II is part of the larger Unicorn Growth Fund initiative launched in April 2026, with a total size of $600 million. This fund focuses on India-centric technology investments and is supported by Naver, a leading South Korean internet company, and Krafton, a global gaming giant known for PUBG and BGMI.
Conclusion
Mirae Asset's new fund represents a significant step forward in supporting India's burgeoning startup ecosystem. By targeting early growth-stage startups and providing comprehensive support, the fund aims to drive innovation and economic growth in the country.
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FAQ Section
**Q: What is the total target for Mirae Asset Venture Opportunity Fund II? A: The total target for MAVOF II is $281 million.
**Q: What sectors does MAVOF II focus on? A: MAVOF II focuses on technology platforms, AI and software, deep tech, advanced manufacturing, and consumer discretionary.
**Q: What kind of support does Mirae Asset offer to startups beyond financial backing? A: Mirae Asset offers strategic partnerships, access to international markets, and long-term institutional support.
Keywords: Mirae Asset, Venture Capital, Fund
Companies: Mirae Asset, Naver, Krafton
Sources
This story is an original summary and analysis written by LazyFounders from the reporting listed above. Facts are attributed to their original publishers; sections marked as analysis are LazyFounders's opinion. Where a source is in another language, facts were machine-translated and quotations are reported, not reproduced. Read the original coverage via the links.
