Mirae Asset Venture Investments Raises ₹1,125 Crore First Close for New India-Focused Growth Fund

Mirae Asset Venture Investments hits ₹1,125 Cr first close for its latest growth fund targeting Series B to Series D startups across fintech, SaaS, and consumer tech.

Global financial conglomerate Mirae Asset Venture Investments has officially announced the first close of ₹1,125 crore ($135 million) for its second India-dedicated venture capital fund. The fund, which targets an ultimate corpus of ₹1,800 crore, will primarily focus on Series B through Series D growth-stage investments, backing high-performing Indian tech enterprises scaling toward public market listings.

The successful first close comes at a pivotal juncture for India's capital market landscape, providing much-needed growth-stage equity for tech companies transitioning from early product-market fit to sustainable, profitable multi-region expansion.

Fund Mandate & Target Investment Sectors

Mirae Asset's new vehicle plans to deploy capital ticket sizes ranging between ₹50 crore and ₹150 crore per startup. Key focus sectors include enterprise SaaS, financial technology, consumer internet, supply chain tech, and EV mobility.

India represents one of the most compelling long-term wealth creation opportunities globally,

said Ashish Dave, CEO of Mirae Asset Venture Investments India. "With our new growth fund, we are doubling down on market-leading startups that demonstrate strong unit economics, operational governance, and clear pathways to domestic public listings within 24 to 36 months."

Mirae Asset's growth commitment aligns with overall market momentum captured in our recent report on Accel's $550M eighth fund closing and reinforces institutional optimism outlined in Indian startup funding resilience for 2026.

Mirae Asset Fund II Allocation & Strategy

The table below breaks down the strategic allocation matrix, target stage distribution, and investment criteria for Mirae Asset's ₹1,125 Cr growth fund:

| Fund Pillar | Strategic Mandate | Target Deal Parameters | | :--- | :--- | :--- | | First Close Corpus | ₹1,125 Crore ($135M) | Target Final Corpus: ₹1,800 Crore | | Check Size Per Deal | ₹50 Cr – ₹150 Cr | Lead or Co-Lead Growth Rounds | | Target Stages | Series B, Series C, Series D | Post-Revenue, EBITDA-Positive Trajectory | | Primary Sectors | Enterprise SaaS, Fintech, Supply Chain, Consumer Tech | High Retention & Expanding Margins | | Geography Focus | India Core (With Global Export Potential) | Domestic Market Dominance or Global SaaS |

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Growth Capital Bridging the Pre-IPO Expansion Gap

Institutional LPs (Limited Partners) committing to Mirae Asset's first close include global sovereign wealth entities, family offices, and leading domestic institutional funds. The capital commitment comes as Indian tech startups increasingly prioritize domestic public offerings (IPOs) on the NSE and BSE over offshore listings.

By providing patient growth capital during Series B–D stages, Mirae Asset aims to enable portfolio companies to optimize their balance sheets, clean up capitalization tables, and institutionalize corporate governance standard prior to filing draft red herring prospectuses (DRHP).

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Portfolio Track Record & Strategic Synergies

Mirae Asset has been an active investor in India's technology ecosystem over the past decade, having backed category leaders such as Ola, Zomato, BigBasket, and Shadowfax. The firm's global presence across South Korea, the US, and Southeast Asia provides portfolio companies with cross-border partnership channels and international M&A access.