Mirae Asset Venture Investments India (MAVI India) has marked the first close of its second early-growth fund at ₹1,125 crore, targeting a final corpus of ₹1,800 crore. The fund focuses on Series B to D companies, with an emphasis on technology, artificial intelligence, advanced manufacturing, and deeptech sectors, according to livemint.com.
The fundraise process began earlier this year, with Mirae Asset aiming to back startups in their early growth stages. Puneet Kumar, CEO of Mirae Asset Venture Investments India, highlighted the fund’s strategy to invest in companies that are scaling up and leveraging emerging technologies. The firm is actively engaging with investors to reach the ₹1,800 crore target, with the first close signaling strong investor interest.
This fund launch follows Mirae Asset’s established presence in the Indian venture capital space, where it has backed multiple startups across sectors. The focus on AI and advanced manufacturing aligns with broader industry trends where investors are increasingly channeling capital into tech-driven innovation. The ₹1,125 crore first close positions Mirae Asset among the significant early-growth fundraisers in India this year.
Mirae Asset plans to deploy the fund across multiple startups in the Series B-D stages, aiming to capitalize on growth opportunities in technology and deeptech. The firm’s progress toward the ₹1,800 crore target will be closely watched by market participants, with the next fundraising milestones expected later this year, livemint.com reported.