Mirae Asset Venture Opportunity Fund (MAVOF II)

Mirae Asset Venture Investments India (MAVI India), the venture capital division of Mirae Asset Financial Group, has declared the initial closing of its second Mirae Asset Venture Opportunity Fund (MAVOF II) at Rs 1,125 crore. This fund aims to establish a target corpus of Rs 1,800 crore and will target Indian startups focusing on technology platforms, AI and software, deeptech, advanced manufacturing, and consumer discretionary sectors.

Backed by a Major Fund

MAVOF II is supported by the Rs 6,000 crore India-focused Unicorn Growth Fund introduced by MAVI India in April 2026, in collaboration with South Korean technology firms KRAFTON and Naver. This fund stands as one of the largest capital reserves collected from Asia intended for Indian startups.

Investment Focus of the Unicorn Growth Fund

The Unicorn Growth Fund primarily aims at growth stage startups, concentrating on technology platforms, consumer discretionary sectors, AI, and deeptech. The investment strategies include areas such as consumer internet, digital marketplaces, generative and applied AI, enterprise SaaS, semiconductors, spacetech, robotics, and advanced materials.

Investment Strategy of MAVOF II

MAVOF II represents MAVI India’s third dedicated private fund solely focused on India. Its primary objective is to invest in early growth companies that have secured product market fit and are poised for their next scalability phase. MAVI India intends to concentrate on companies with the potential to emerge as category leaders in both Indian and global markets. The firm is committed to aiding founders through strategic partnerships, access to cross-border markets, and institutional support.

Active Role in the Startup Ecosystem

For the past eight years, MAVI India has actively participated in India’s vibrant startup ecosystem, backing numerous companies, including Shadowfax, Raise (Dhan), and KreditBee. Following this initial close, MAVI India aims to gather further capital domestically to enhance its presence in India.