Mirae Asset Venture Investments India, the dedicated venture capital business of Mirae Asset financial services conglomerate, has announced the successful closing of the first tranche of Mirae Asset Venture Opportunity Fund II. In the first phase of raising funds, the fund has successfully raised ₹1,125 crore. The ambitious total corpus target of ₹1,800 crore positions the fund to play a major role in supporting the growth path of the Indian startup ecosystem.

Operational philosophy and targeted sector focus

The firm plans to provide large capital exposure to promising startups in promising transformative sectors, such as advanced technology platforms, artificial intelligence and software applications, deeptech innovations, advanced manufacturing systems, consumer discretionary businesses, among others, through this new capital vehicle.

This initial close aligns with Mirae Asset Venture Investments India’s broader trajectory in the identification, funding and nurturing the growth of the country’s futuristic high-growth businesses. The fund manager’s allocation of ₹1,125 crore toward its ultimate corpus of ₹1,800 crore not only reinforces its long-term strategic intent in supporting Indian innovation but also its investment in entrepreneurs creating scalable enterprise solutions and consumer products for both domestic and international markets.

The operational philosophy of the Mirae Asset Venture Opportunity Fund II is to select and collaborate with early-growth businesses with demonstrated product-market fit. The fund aims not to invest in seed-stage companies, but to invest in companies in their next important phase of expansion and commercialisation. 

The fund’s business-oriented focus aims to deliver the institutional support and expansion capital needed to drive momentum and transition, where appropriate, viable businesses into dominant industry leaders. The fund covers a broad but targeted range of modern businesses and industries. 

There is strategic focus on technology platforms and software ecosystems, especially those powered by artificial intelligence that will drive positive transformation to business processes and consumer experience. Advanced manufacturing projects and deep tech firms are also significant focus areas, reinforcing the theme of industrial transformation. 

Consumer discretionary sectors continue to be a focal area for investment. In addition to this financial equity, Mirae Asset Venture Investments India will also actively include every member of the founding team by providing strategic partnerships, efficient cross-border market access, and strong institutional support to enable startups to be category leaders in India and across the world.

Institutional track record and key partnerships

One of the core pillars of the capital structure of the Mirae Asset Venture Opportunity Fund II is the direct support from the ₹6000 crore focused Fund of India growth fund, Unicorn Growth Fund. The Unicorn Growth Fund was launched by Mirae Asset Venture Investments India in partnership with leading South Korean technology giants KRAFTON and Naver in April 2026. 

This is one of the largest fundraising exercises dedicated to funding Indian tech startups from Asia in history. The Unicorn Growth Fund’s primary role is to look for growth and market-transforming businesses. 

The main focus areas are technology platforms, consumer discretionary products, artificial intelligence, software development, and deep-tech infrastructure. Several critical domain themes form part of the investment framework that governs this broader fund. 

These themes encompass space technologies, applied and generative AI solutions, enterprise Software-as-a-Service applications, advanced materials development, semiconductor technologies, robotics systems, digital marketplaces, and consumer internet businesses. This deep integration with this major capital ecosystem creates a formidable backing mechanism for the portfolio companies willing to scale quickly.

The launch and early closing of MAVOF II is an important milestone in the growing historical footprint of Mirae Asset Venture Investments India. MAVOF II is the third explicit private fund dedicated to India at the firm’s level. 

The venture firm has had a sustained and meaningful engagement within the Indian venture landscape over the last 8 years and has proved to be a reliable institutional investor for high-potential founding teams. 

Over the past 8 years operating in the region, the firm has supported several prominent enterprises in their adventurous journey towards substantial scale, such as technology-based logistics services provider Shadowfax, financial technology platform Raise (Dhan), and a digital lending company KreditBee.

Mirae Asset Venture Investments India is actively progressing towards its next fund-raising execution, following a successful ₹1125 crore initial close of MAVOF II. After achieving this milestone, the firm plans to start its next round of capital raising from domestic investors in India. 

This will further strengthen its footprint in the domestic LP market, build a larger local investment presence and continue to allocate capital to the next generation of transformational Indian startup companies.

Conclusion

The first close of MAVOF II at ₹1,125 crore towards the target corpus of ₹1,800 crore is a testimony to the confidence held by Mirae Asset Venture Investments India in the future of the Indian start-up ecosystem.

With the support of the ₹6,000 crore Unicorn Growth Fund, alongside KRAFTON and Naver, MAVOF II is poised to deliver critical growth capital, cross-border network assistance, and strategic direction to early-growth companies in crucial sectors such as AI, deeptech, advanced manufacturing, software applications, and consumer discretionary markets.

The firm’s long-term strategy in India remains to continue developing category leaders, and accelerated planning to raise additional capital within the country is a key priority.