Mirae Asset Group Launches Early Stage Focused Fund For Indian Startups
Mirae Asset Group, a South Korean financial services company, is betting on Indian startups with the launch of early-stage startups focused fund.
With investments of over $200 million in half a dozen companies, the financial services company has backed Indian startups and unicorns like Swiggy, Zomtao, Shadowfax, Ola, ZoloStay, and BigBasket etc.
Reported by ET, Mirae Asset group via Mirae Asset Venture Opportunities Fund 1, has created a corpus of $35 million to back startups from their seed to Series A stage.
The South Korean financial services company has kept an option to increase the fund size to $75 million.
Ashish Dave, CEO of $1 billion worth Mirae Asset-Naver Asia Growth Fund, will also lead the new fund in India.
Mirae Asset Group through this new fund will target fintech, consumer internet and SaaS startups in India with $1-5 million investment over the next 12-18 months.
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