Mirae Asset Venture Investments Raises ₹1,125 Crore in First Close of New India-Dedicated Fund
Mirae Asset Venture Investments India has secured ₹1,125 crore in the first close of its new India-focused fund, the Mirae Asset Venture Opportunity Fund-II (MAVOF II). The fund has a total target corpus of ₹1,800 crore and represents the firm’s third dedicated India-focused vehicle, significantly expanding its commitment to the country’s startup ecosystem .
Targeting the Series B–D Growth Gap
The fund is strategically positioned to address what the firm identifies as a critical funding gap in India’s startup landscape: growth capital for companies at the Series B, C, and D stages that have proven product-market fit and are ready to scale .
“While the ecosystem has gotten more vibrant over the years, there is a big gap in the ecosystem today in the Series B-D stages when they are looking for growth capital.” — Puneet Kumar, CEO, Mirae Asset Venture Investments India
The firm will typically evaluate companies between Series B and D stages, with entry valuations in the ₹1,000–3,000 crore range and cheque sizes of ₹100–200 crore . This positions Mirae Asset in the critical “early-growth” segment between traditional venture capital and larger growth-equity investors .
Strategic Sector Focus
MAVOF II will focus on four key investment themes :
- Technology Platforms – Category-defining digital businesses
- AI and Software – Artificial intelligence and enterprise software
- DeepTech and Advanced Manufacturing – Space tech, semiconductors, and defence
- Consumer Discretionary – New-age brands and consumer businesses
Backing and Institutional Support
The fund has received contributions from Mirae Asset India and its global businesses, as well as from the Unicorn Growth Fund—a ₹6,000 crore technology fund launched in April 2026 in partnership with South Korea’s Naver and gaming major Krafton .
Following the first close, the firm plans to focus on raising capital domestically from Indian institutions, family offices, and high-net-worth individuals .
Track Record and Strategic Value
Mirae Asset Venture Investments has been active in India for over eight years, with a portfolio that includes Shadowfax, Dhan (Raise), KreditBee, and Snabbit . The firm’s global network across Asia provides portfolio companies with not just capital, but also strategic partnerships, cross-border market access, and long-term institutional backing .
Puneet Kumar, who joined MAVI India as CEO from Steadview Capital earlier this year, will lead the investment platform .
Broader Context
The fundraise comes as venture investors become more selective in deploying capital, with greater emphasis on companies demonstrating a path to scale and sustainable business models . Mirae Asset’s focus on the early-growth segment fills a critical gap in a market where late-stage funding has become more constrained .
Mirae Asset Financial Group globally manages more than $800 billion in assets as of March 31, 2026 .
