Mirae Asset’s MAVI raises Rs 1,125 Cr in first close of Venture Opportunity Fund II

Mirae Asset Venture Investments (MAVI), a venture capital arm of the Mirae Asset Financial Group in India, successfully closed its Rs 1,800 crore Mirae Asset Venture Opportunity Fund II (MAVOF II) on its first day. The fund, which is backed by Unicorn Growth Fund, a joint venture of MAVI India and Naver, along with KRAFTON, a leading global gaming company, has raised Rs 1,125 crore.

MAVOF II is the third dedicated India-focused private fund launched by MAVI. The fund's primary focus is to partner with early growth businesses across various sectors such as technology platforms, AI/software, deeptech, advanced manufacturing, and consumer discretionary industries that are expected to play a significant role in shaping India's economy in the future.

Following the first close, MAVOF II aims to raise capital domestically to further strengthen its presence in India. Puneet Kumar, CEO of Mirae Asset Venture Investments India, expressed enthusiasm about the fund's focus on the crucial funding stages between Series B and Series D, where there is often a gap in funding. Kumar stated that MAVOF II aims to partner with founders at this important stage to help them build large, enduring companies.

Kumar joined MAVI India as CEO from Steadview Capital earlier this year. MAVI India has been an active investor in India for the past eight years and has previously invested in several startups, including Shadowfax, Raise (Dhan), and Kreditbee.

To support Indian entrepreneurs, MAVI India leverages its global network spanning Asia and other international markets. This network provides not only growth capital but also strategic partnerships, cross-border market access, and long-term institutional backing. The Unicorn Growth Fund, a Rs 6,000 crore India-focused technology fund, was launched in April 2026 by MAVI India.