Mirae Asset's second fund reaches first close at ₹1,125 Cr
Investment firm Mirae Asset Venture Investments (MAVI) India has marked the first close of its second fund at ₹1,125 crore ($117.9 million), aiming to back high-growth Indian businesses.
Mirae Asset Venture Investments (MAVI) India announced the first close of its second fund, Mirae Asset Venture Opportunity Fund II, at ₹1,125 crore (approximately $117.9 million). The fund is established to invest in high-growth Indian companies.
The fund has a target corpus of ₹1,800 crore with a greenshoe option of ₹700 crore. It plans to invest in startups at Series B to Series D stages, focusing on sectors including consumer tech, AI, SaaS, deeptech, advanced manufacturing, and consumer discretionary.
Mirae Asset Venture Investments India, the India-focused venture capital arm of South Korea's Mirae Asset Financial Group, has been active in India for eight years. This new fund is its third dedicated private fund for the Indian market. The capital will be deployed to support businesses that have achieved product-market fit and are entering their scaling phase.
The first close of this fund occurs amid continued interest in growth-stage capital investments within India's venture ecosystem. There is a recognized need for more domestic capital to support companies transitioning from early traction to expansion. Multiple institutional firms have recently been raising vehicles specifically for this purpose.