Now Reading: Mirae Asset Venture closes first tranche of second India fund at Rs 1,125 crore
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Mirae Asset Venture closes first tranche of second India fund at Rs 1,125 crore
Mirae Asset Venture closes first tranche of second India fund at Rs 1,125 crore
Mirae Asset Venture Investments (MAVI India), the Indian arm of South Korea's Mirae Asset Financial Group, has marked the first close of its latest fund, Mirae Asset Venture Opportunity Fund II (MAVOF…
The Story in Brief
Mirae Asset Venture Investments (MAVI India), the Indian arm of South Korea's Mirae Asset Financial Group, has marked the first close of its latest fund, Mirae Asset Venture Opportunity Fund II (MAVOF II), at Rs 1,125 crore. The fund, which has a target corpus of Rs 1,800 crore, also carries a green shoe option of Rs 700 crore.
MAVOF II is backed by the Unicorn Growth Fund, a Rs 6,000 crore India-focused technology fund MAVI India launched earlier this year with Naver and KRAFTON. The fund will target early-growth businesses at Series B to D stages in sectors such as AI, software, deeptech, advanced manufacturing, and consumer discretionary.
The Indian Opinion
The narrative that growth-stage capital is scarce in India is wearing thin. Funds like MAVOF II, Physis Capital's Rs 400 crore corpus, and the Unicorn Growth Fund show that institutional money is finding its way to promising startups. The real test is whether these funds will pick winners across board, or continue to crowd into the same handful of hot sectors. Watch for how many of MAVOF II's bets actually reach profitability, not just the next funding round.
Sources (2): thehindubusinessline.com, inc42.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
