Mirae Asset Ventures' ₹1,125 Cr Fund Close: Growth-Stage Investments in India

Mirae Asset Ventures Fund Close

In 2026, Mirae Asset Ventures marked the first close of its second fund at ₹1,125 Cr ($117.9 Mn), aiming to back high-growth Indian businesses. The fund, known as Mirae Asset Venture Opportunity Fund II (MAVOF II), is backed by Unicorn Growth Fund and has a target corpus of ₹1,800 Cr with an additional green shoe option of ₹700 Cr.

Funding Landscape in India

The latest development comes as growth-stage capital investments continue to draw attention in India’s venture ecosystem. Multiple institutional firms are raising vehicles focused on scaling startups beyond seed-stage bets. For instance, growth-stage VC firm Physis Capital announced the final close of its maiden fund at ₹400 Cr ($48 Mn) in May. According to Inc42’s Indian Tech Startup Funding Report, H1 2026, growth-stage funding rose 15% Y-o-Y to $2.3 Bn.

Sectors of Focus

The fund aims to invest in startups at the Series B to Series D stages and operates across several sectors including consumer tech, AI, SaaS, deeptech, advanced manufacturing, and consumer discretionary. This diversified approach highlights the fund’s intent to support a wide range of innovative startups.

About Mirae Asset Ventures

Mirae Asset Venture Investments India is the India-focused venture capital platform of South Korea’s Mirae Asset Financial Group and is based in Mumbai. The platform has been active in India for eight years and has launched three dedicated India-focused private funds.

Growth-Stage Investments in 2026

The fresh investment vehicle adds to Mirae Asset’s broader India investing strategy. The firm plans to use the corpus to back businesses that have already achieved a product-market fit and are entering their next phase of scale. “With Mirae Asset Venture Opportunity Fund – II, we want to partner with founders at this important stage of their journey and help them build large, enduring companies.” MAVI India chief executive Puneet Kumar said.

FAQs

What is Mirae Asset Venture Opportunity Fund II?

Mirae Asset Venture Opportunity Fund II (MAVOF II) is Mirae Asset Ventures’ second fund, which has closed at ₹1,125 Cr ($117.9 Mn) with a target corpus of ₹1,800 Cr.

What sectors does MAVOF II focus on?

The fund targets startups in consumer tech, AI, SaaS, deeptech, advanced manufacturing, and consumer discretionary.

Why is growth-stage funding gaining traction in India?

Growth-stage funding is gaining traction as the market still lacks enough domestic capital for companies moving from early traction to expansion.

Conclusion

Mirae Asset Ventures’ fund close underscores the growing interest in growth-stage capital investments in India’s venture ecosystem. With a focus on scaling high-growth startups, the fund aims to support businesses entering their next phase of scale, contributing to India’s tech and startup economy.

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