Mirae Asset Venture raises Rs 1,125 crore in first close of new India-dedicated fund
This compares with the firm’s first flagship fund, which had a corpus of Rs 370 crore, and a late-stage vehicle it launched with a corpus of Rs 700 crore.
Mirae Asset Venture Investments India has successfully raised Rs 1,125 crore in its first close of the newly launched India-focused fund, Mirae Asset Venture Opportunity Fund-II. The fund aims to back early-growth startups in various sectors, including technology platforms, AI, software, deeptech, advanced manufacturing, and consumer discretionary businesses.
CEO Puneet Kumar stated that the fund will target companies in the Series B-D stages, where startups seek capital to scale beyond initial product-market fit. The fund's target corpus is Rs 1,800 crore, with contributions from Mirae Asset India, its global businesses, and the Rs 6,000 crore Unicorn Growth Fund. Kumar highlighted the importance of this stage in the venture capital landscape, emphasizing the scarcity of funds focusing on this segment.
The fundraising comes as venture investors have become more selective, prioritizing companies with scalable business models and sustainable growth.
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