Strengthening cross-border investment ties, leading South Korean companies have joined hands to back India’s growing startup ecosystem with a large funding initiative.
KRAFTON Inc. and Naver Corporation have partnered with Mirae Asset Venture Investments to officially launch a ₹6,000 crore India-focused Unicorn Growth Fund. The fund, first announced in December, is among the largest capital pools raised from Asia for Indian startups.
The launch followed a high-level meeting attended by Piyush Goyal, Jung Kwan Kim, senior leaders from KRAFTON and Naver, and Puneet Kumar, CEO of Mirae Asset Venture Investments India.
Focus on key growth sectors
The fund will target Indian technology companies across 4 major sectors, including technology platforms, consumer discretionary, AI and software, and deep tech.
Under technology platforms, investments will cover consumer internet, digital marketplaces, and next-generation infrastructure. Consumer discretionary will focus on digitally native brands and new-age businesses serving India’s growing middle class. AI and software investments will include generative AI, applied AI, enterprise SaaS, and developer tools. Deep tech investments will span semiconductors, space tech, robotics, and advanced materials.
Backing growth-stage startups
The Unicorn Growth Fund will primarily invest in growth-stage startups and support Indian founders building category-leading companies with global ambitions. It will also bring expertise in product, AI, gaming, and platform development from KRAFTON and Naver, along with access to Korean and wider Asian markets.
Managed by Mirae Asset Venture Investments
The fund will be managed and advised by Mirae Asset Venture Investments, the private investment platform of the Mirae Asset Group, which has an on-ground team experienced in both Indian and Korean markets.
Puneet Kumar said India is at an inflection point and is expected to create a new generation of global technology leaders over the next decade. He added that the platform combines KRAFTON and Naver’s strategic strengths with Mirae Asset’s investment presence in India.
Mirae Asset Venture Investments has previously backed several Indian startups across sectors such as consumer internet, fintech, mobility, healthtech, and AI, and will lead investments for this new fund in India.
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