Mirae Asset Venture Investments Marks ₹1,125 Cr First Close
The fund, backed by Unicorn Growth Fund, targets ₹1,800 Cr corpus with a green shoe option of ₹700 Cr to invest in high-growth Indian businesses
Mirae Asset Venture Investments has marked the first close of its second fund, Mirae Asset Venture Opportunity Fund II, at ₹1,125 Cr. The fund has a target corpus of ₹1,800 Cr and a green shoe option of ₹700 Cr, and is backed by Unicorn Growth Fund.
The fund will invest in startups at the Series B to Series D stages, operating across segments like consumer tech, AI, SaaS, deeptech, advanced manufacturing and consumer discretionary. This investment strategy is aimed at backing high-growth Indian businesses that have already achieved a product-market fit and are entering their next phase of scale.
Mirae Asset Venture Investments India has been active in India for eight years and has backed companies including Shadowfax, Raise (Dhan) and KreditBee. The company's CEO, Puneet Kumar, stated that there is a big gap in the ecosystem today in the Series B-D stages when companies are looking for growth capital.
## What it means The fund comes at a time when Indian start-ups at the Series B-D stages face a funding gap as they transition from product validation to scaling. Mirae Asset Venture Opportunity Fund II will focus on category-defining companies with the potential to build market leadership, particularly in sectors benefiting from India's structural transformation.
Unicorn Growth Fund, which is backing Mirae Asset Venture Opportunity Fund II, is a ₹6,000 Cr India-focused technology fund launched in April 2026 with Naver and KRAFTON. The fund's investment in Mirae Asset Venture Opportunity Fund II is a significant contribution to the Indian startup ecosystem.
## Why it matters The investment by Mirae Asset Venture Investments is a significant development in the Indian startup ecosystem, as it provides much-needed growth capital to high-growth Indian businesses. With its focus on category-defining companies, the fund has the potential to build market leadership in various sectors, driving innovation and growth in the Indian economy.
The fund's target corpus of ₹1,800 Cr, along with the green shoe option of ₹700 Cr, demonstrates the confidence of investors in the Indian startup ecosystem. As the Indian economy continues to grow and transform, funds like Mirae Asset Venture Opportunity Fund II will play a crucial role in supporting high-growth businesses and driving innovation.
