Krafton, Naver, and Mirae Asset Venture Investments have launched a ₹6,000 crore (~ $650 million) India-focused Unicorn Growth Fund. The fund will target late-stage startups that are ready to scale or move toward IPO. The companies plan to back sectors like AI, consumer tech, and deep tech with bigger cheque sizes. The move comes at a time when growth-stage funding has slowed, making large investments harder to secure.
Managed by Mirae Asset Venture Investments, the fund will primarily invest in growth-stage companies with proven business models and strong revenue visibility. The investment strategy is expected to include fewer but larger deals, with individual cheque sizes significantly higher than traditional venture rounds. This approach aligns with the goal of supporting companies through their final stages of private growth before entering public markets.
“India is at an inflection point. Over the next decade, a new generation of Indian technology champions will be built in India — for India and the world. Those founders will need capital. They will also need product, AI, gaming, and platform expertise from partners who have built at scale globally. That is what our on-the-ground Mirae Asset team in India will activate with expertise from KRAFTON and Naver,” Puneet Kumar (CEO, Mirae Asset Venture) noted.
Each of the three partners brings distinct strategic strengths to the initiative. Krafton has already established a strong presence in India through its gaming ecosystem and prior startup investments, reportedly deploying over $200 million across sectors like fintech, content, and digital platforms. The company’s deep understanding of the country’s mobile-first user base and digital consumption patterns is expected to provide portfolio startups with insights into scaling products and engaging large audiences.
At the same time, Naver contributes technological expertise, particularly in AI, data platforms, and internet services. Its experience in building large-scale digital ecosystems in South Korea and beyond could help Indian startups strengthen their technology stack and expand into international markets. Meanwhile, Mirae Asset brings financial discipline and local market experience. The group has previously invested in several well-known Indian startups, including Zomato, Ola, and BigBasket, giving it a strong track record in identifying high-growth opportunities in the country.
The latest fund is also expected to play a critical role in addressing a visible gap in India’s startup financing cycle. While early-stage investments and seed funding have remained relatively active, late-stage capital – typically required for scaling operations, expanding globally, or preparing for public listings – has tightened over the past two years. Estimates indicate that overall startup funding in India has seen a decline, especially impacting companies seeking large rounds above $20-30 million.
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Ashutosh is a Senior Writer at The Tech Portal, largely reporting on new tech, and intersection of technology and business. Ashutosh’s career spans across nearly a decade of technology writing across multiple platforms and languages.
