South Korean company, Mirae Asset launches $35 mn early stage fund for India

South Korean company Mirae Asset group is ready to explore its India footprint with a fresh boost of $35 mn for early-stage Indian startups.

This early stage fund will back up the Mirae Asset-Naver Asia Growth Fund of over $1 bn. So far, Mirae has invested in Ola, Bigbasket, Zomato, Shadowfax and other startups through the growth fund.

Mirae plans to continue operating both funds independently. Investment ticket sizes over $10 mn will be through the growth fund, while the Opportunities Fund will invest in up to Series A rounds where Mirae’s Korean partners would also be co-investing having an average ticket size of $2 mn – $4 mn.

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