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Events / Business / Mirae Asset closes India venture fund
Business fundraising

Mirae Asset closes India venture fund

Analysis based on 10 articles · First reported Aug 13, 2026 · Last updated Aug 13, 2026

Sentiment
30
Attention
2
Articles
10
Market Impact
General
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Market Impact

The fund's first close signals continued investor confidence in India's growth-stage startup ecosystem, potentially boosting sentiment for venture capital and technology sectors. It may also strengthen Mirae Asset's position in India's venture market, though the impact on broader markets is limited given the fund's size relative to the overall economy.

Venture Capital Technology Financial Services
Event Summary

Mirae Asset Venture Investments, the venture capital arm of Mirae Asset Financial Group, announced the first close of its third India-focused fund, Mirae Asset Venture Opportunity Fund-II (MAVOF II), raising ₹1,125 crore (about $132 million) against a target corpus of ₹1,800 crore (about $189 million). The fund will invest in early-growth Indian companies across technology platforms, AI/software, deep tech, advanced manufacturing, and consumer discretionary sectors, targeting Series B-D stage startups that have demonstrated product-market fit. The first close includes backing from Unicorn Growth Fund, a vehicle launched earlier this year in partnership with Naver and Krafton, as well as contributions from Mirae Asset India and its global businesses. MAVI India plans to raise additional capital domestically to reach its target. The fund aims to address a funding gap in India's startup ecosystem at the growth stage. MAVI India has been investing in India for eight years, with portfolio companies including Shadowfax, Dhan, Himachal Pradesh, and KreditBee. Puneet Kumar Goel, CEO of MAVI India, emphasized the opportunity to partner with founders at the Series B-D stage.

Key Actions
100 Mirae Asset Venture Investments raised
80 Unicorn Growth Fund backed Mirae Asset Venture Opportunity Fund-II
70 Mirae Asset Venture Investments announced Unicorn Growth Fund
50 Mirae Asset Venture Investments plans to raise
Entities Involved
priv
Mirae Asset Venture Investments
Manager of MAVOF II; successfully raised first close, enhancing its ability to invest in Indian growth-stage companies.
Importance 100.0 Sentiment 50.0
priv
Mirae Asset Venture Opportunity Fund-II
The new fund; first close of ₹1,125 crore against ₹1,800 crore target, will deploy capital in Indian growth-stage startups.
Importance 100.0 Sentiment 50.0
priv
Mirae Asset Financial Group
Parent company of MAVI India; benefits from expanded India presence and potential returns from the new fund.
Importance 90.0 Sentiment 40.0
cnt
India
Target market for the fund; benefits from increased venture capital availability for growth-stage startups.
Importance 80.0 Sentiment 40.0
priv
Unicorn Growth Fund
Backed MAVOF II's first close; also invested in Bonita Ely, indicating active deployment in India.
Importance 70.0 Sentiment 40.0
per
Puneet Kumar Goel
CEO of MAVI India; leading the fund's strategy and public communications.
Importance 60.0 Sentiment 30.0
stock
Naver
Partner in Unicorn Growth Fund; indirectly supports MAVOF II through its backing.
Importance 50.0 Sentiment 30.0
stock
Krafton
Partner in Unicorn Growth Fund; indirectly supports MAVOF II through its backing.
Importance 50.0 Sentiment 30.0
cnt
South Korea
Home country of Mirae Asset, Naver, and Krafton; these entities are expanding India exposure.
Importance 30.0 Sentiment 20.0
curr
India — Indian rupee
Currency in which the fund is denominated; fundraise may reflect investor confidence in the rupee.
Importance 30.0 Sentiment 10.0
curr
United States — United States dollar
Used for conversion in reporting; no direct impact.
Importance 20.0 Sentiment 10.0
priv
Steadview Capital
Former employer of Puneet Kumar Goel; no direct role in this event.
Importance 10.0 Sentiment 0.0
priv
Dhan, Himachal Pradesh
Portfolio company of MAVI India; not directly affected by this fundraise.
Importance 10.0 Sentiment 0.0
priv
KreditBee
Portfolio company of MAVI India; not directly affected by this fundraise.
Importance 10.0 Sentiment 0.0
Relationships
Mirae Asset Financial Group related ↔ South Korea
India related ↔ South Korea
Naver related ↔ South Korea
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