Mirae Asset’s MAVI raises Rs 1,125 Cr in first close of Venture Opportunity Fund II
Mirae Asset Venture Opportunity Fund-II will invest in startups at the Series B-D stages across sectors.
Mirae Asset Venture Investments (MAVI), the venture capital investment platform of the Mirae Asset Financial Group in India, has raised Rs 1,125 crore as the first close of its Rs 1,800 crore Mirae Asset Venture Opportunity Fund – II (MAVOF II/Fund).
This fund is backed by Unicorn Growth Fund, which MAVI India announced earlier this year in partnership with Naver and KRAFTON. Naver is Korea’s leading internet platform, spanning search, content, commerce, fintech, cloud and media across Asia. KRAFTON is a leading global gaming company behind PUBG and BGMI.
MAVOF II is the firm’s third dedicated India-focused private fund. The fund will partner with early growth businesses across technology platforms, AI/software, deeptech, advanced manufacturing, and consumer discretionary sectors that are expected to shape the next phase of India’s economy, a statement said.
Following the first close, the fund aims to focus on raising capital domestically to deepen its presence in India.
According to Puneet Kumar, CEO, Mirae Asset Venture Investments India, the Indian startup ecosystem continues to see a big gap at the funding stages between Series B and Series D, which is generally growth capital.
“With Mirae Asset Venture Opportunity Fund – II, we want to partner with founders at this important stage of their journey and help them build large, enduring companies,” Kumar said.
Puneet Kumar joined MAVI India as the CEO from Steadview Capital earlier this year.
MAVI India announced Unicorn Growth Fund earlier this year and has been an active investor in India over the last eight years. It has previously invested in startups such as Shadowfax, Raise (Dhan), Kreditbee, and others.
MAVI India said through its global network spanning Asia and other international markets, it aims to support Indian entrepreneurs with not only growth capital, but also strategic partnerships, cross-border market access, and long-term institutional backing.
The Unicorn Growth Fund is a Rs 6,000 crore India-focused technology fund launched in April 2026. Mirae Asset Group globally manages an assets under management (AUM) of over $800 billion.