Mirae Asset Venture Investments has achieved a significant milestone with the first close of its Venture Opportunity Fund II, securing Rs 1,125 crore in funding. This development marks a crucial step for the venture capital investment platform, which is part of the Mirae Asset Financial Group in India.
The fund, which has a target size of Rs 1,800 crore, is backed by the Unicorn Growth Fund, a partnership between MAVI India, Naver, and KRAFTON. This collaboration brings together key players in the technology and gaming industries, with Naver being Korea's leading internet platform and KRAFTON being the company behind popular games such as PUBG and BGMI.
What Happened
The first close of the Venture Opportunity Fund II is a notable achievement for Mirae Asset Venture Investments, as it demonstrates the confidence of investors in the fund's strategy and potential for growth. The fund will focus on partnering with early growth businesses across various sectors, including technology platforms, AI and software, deeptech, advanced manufacturing, and consumer discretionary sectors.
According to Puneet Kumar, CEO of Mirae Asset Venture Investments India, the Indian startup ecosystem is currently facing a significant gap in funding between Series B and Series D, which is typically the growth capital stage. The Venture Opportunity Fund II aims to address this gap by providing growth capital to founders and helping them build large, enduring companies.
The fund's strategy is to focus on raising capital domestically, with the aim of deepening its presence in India. This approach is expected to enable the fund to better support Indian entrepreneurs and provide them with the necessary resources to grow and expand their businesses.
The Details
The Venture Opportunity Fund II is the third dedicated India-focused private fund launched by Mirae Asset Venture Investments. The fund has already gained significant traction, with the first close of Rs 1,125 crore marking a major milestone in its development. The fund's target size of Rs 1,800 crore is expected to be achieved through a combination of domestic and international investments.
MAVI India has been an active investor in India over the last eight years, with a portfolio that includes startups such as Shadowfax, Raise (Dhan), and Kreditbee. The company's global network, which spans Asia and other international markets, is expected to provide Indian entrepreneurs with access to strategic partnerships, cross-border market access, and long-term institutional backing.
The Unicorn Growth Fund, which was launched in April 2026, is a Rs 6,000 crore India-focused technology fund that aims to support the growth of Indian startups. The fund is part of the Mirae Asset Group, which globally manages an assets under management (AUM) of over $800 billion.
Background
The Indian startup ecosystem has experienced significant growth in recent years, with many startups achieving success and expanding their operations. However, the ecosystem is still facing challenges, including a lack of funding at the growth capital stage. The Venture Opportunity Fund II aims to address this gap by providing growth capital to founders and helping them build large, enduring companies.
MAVI India's decision to focus on raising capital domestically is expected to enable the fund to better support Indian entrepreneurs and provide them with the necessary resources to grow and expand their businesses. The fund's global network, which spans Asia and other international markets, is also expected to provide Indian entrepreneurs with access to strategic partnerships, cross-border market access, and long-term institutional backing.
What It Means
The launch of the Venture Opportunity Fund II is expected to have a significant impact on the Indian startup ecosystem. The fund's focus on providing growth capital to founders is expected to help address the funding gap at the growth capital stage, enabling startups to expand their operations and achieve success.
The fund's global network, which spans Asia and other international markets, is also expected to provide Indian entrepreneurs with access to strategic partnerships, cross-border market access, and long-term institutional backing. This is expected to enable Indian startups to compete on a global scale and achieve success in international markets.
Key Points
Mirae Asset Venture Investments has raised Rs 1,125 crore for its Venture Opportunity Fund II.
The fund has a target size of Rs 1,800 crore and is backed by the Unicorn Growth Fund.
The fund will focus on partnering with early growth businesses across various sectors, including technology platforms, AI and software, deeptech, advanced manufacturing, and consumer discretionary sectors.
The fund aims to address the funding gap at the growth capital stage and provide Indian entrepreneurs with access to strategic partnerships, cross-border market access, and long-term institutional backing.
MAVI India has been an active investor in India over the last eight years, with a portfolio that includes startups such as Shadowfax, Raise (Dhan), and Kreditbee.
The Mirae Asset Group globally manages an assets under management (AUM) of over $800 billion.
What Happens Next
The Venture Opportunity Fund II is expected to play a significant role in shaping the Indian startup ecosystem in the coming years. The fund's focus on providing growth capital to founders and its global network, which spans Asia and other international markets, are expected to enable Indian startups to compete on a global scale and achieve success.
As the fund continues to raise capital and invest in Indian startups, it is expected to have a positive impact on the ecosystem. The fund's success is also expected to attract more investors to the Indian startup ecosystem, providing more opportunities for Indian entrepreneurs to grow and expand their businesses.
This article is based on reporting published by Yourstory.
