Now Reading: Mirae Asset Venture gets first close for MAVOF II at Rs 1,125 crore
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Mirae Asset Venture gets first close for MAVOF II at Rs 1,125 crore
Mirae Asset Venture gets first close for MAVOF II at Rs 1,125 crore
Mirae Asset Venture Investments has raised ₹1,125 crore in the first close of its latest India-focused fund, Mirae Asset Venture Opportunity Fund-II (MAVOF II), against a target of ₹1,800 crore. The fund…
The Story in Brief
Mirae Asset Venture Investments has raised ₹1,125 crore in the first close of its latest India-focused fund, Mirae Asset Venture Opportunity Fund-II (MAVOF II), against a target of ₹1,800 crore. The fund is backed by Unicorn Growth Fund, announced earlier this year with Naver and KRAFTON. It will invest in early-growth Indian companies that have shown product-market fit, across technology platforms, AI, deep tech, advanced manufacturing and consumer discretionary sectors. MAVI India CEO Puneet Kumar said there is a big gap in Series B-D stage funding. The fund plans to raise more capital domestically and use Mirae Asset’s global network to help portfolio companies scale.
The Indian Opinion
A ₹1,125-crore first close sounds impressive, but it is only 62% of the target. Claims that this single fund bridge India’s Series B-D funding gap are premature. The real test will be whether MAVI can raise the remaining ₹675 crore from domestic investors, who have been cautious. If they do, it signals genuine confidence in Indian startups beyond the usual hype cycles.
Source: thehindubusinessline.com
This story was synthesised by AI from the source linked above.
