Mirae Asset Venture Investments India has secured approximately $118 million in its first close for a new India-focused fund, reflecting a more cautious approach in India’s evolving startup landscape amid rising investor expectations for sustainable growth.
Mirae Asset Venture Investments India has reached the first close of its new India-focused fund at about $118 million, or roughly ₹1,125 crore, a sign that global capital still sees room for patient, selective investment in the country’s startup market. The fund is intended for companies that have moved beyond the concept stage and are now trying to convert early traction into durable growth, according to reporting from Newskart and Livemint.
The timing matters. India’s venture scene is no longer in the exuberant phase that marked 2021, when many investors were willing to pay up for rapid user growth alone. Now, backers are putting more weight on revenue quality, margins and the likelihood of a workable exit. In that setting, Mirae’s new vehicle suggests the market has become more disciplined, not less active.
Livemint reported that Mirae Asset is also part of a broader South Korean push into Indian technology investing. The firm is set to lead the Unicorn Growth Fund, a ₹6,000 crore pool backed by Krafton and Naver, aimed at early-growth technology companies. That initiative points to particular interest in digital marketplaces and artificial intelligence, while also underscoring how Asian strategic investors are competing for exposure to India’s startup economy.
Mirae Asset’s India footprint is already well established. The firm has backed companies including Shadowfax, Dhan, Snabbit and KreditBee, alongside earlier bets such as Ola, BigBasket and Zomato, giving it experience across logistics, fintech and consumer internet. That background may help the new fund do more than write cheques: it can also offer founders follow-on support and access to a broader international network.
For founders, the message is straightforward. Capital is still available, but it is more likely to flow towards businesses with real customers, clearer unit economics and a credible route to scale. Mirae’s latest fund therefore looks less like a return to easy money than a bet that India’s next generation of technology companies will be built on stronger commercial foundations. Earlier this year, Livemint also reported that Mirae Asset Venture Investments India appointed Puneet Kumar, formerly of SteadView Capital, as chief executive, a move that may shape how the firm sharpens its investment strategy going forward.
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