The 'Unicorn Growth Fund', first announced in December, is among the largest pools of capital raised from Asia for India's startup ecosystem. Its official launch followed a high-level meeting attended by India's commerce minister Piyush Goyal and South Korea's trade minister Jung Kwan Kim, alongside senior leaders from the participating firms.

The initiative comes amid continued investor interest in India's technology sector, including startups benefiting from rapid digital adoption and a growing entrepreneurial base.

The fund will target growth-stage companies across four key areas, including technology platforms, consumer-focused businesses, AI and software, and deeptech.

AI and software investments will span generative and applied AI, enterprise software and developer tools. Meanwhile, deeptech funding will extend to sectors such as semiconductors, robotics, spacetech and advanced materials.

The fund aims to support companies with the potential to become category leaders globally, while also providing access to expertise in product development, gaming and AI from its South Korean partners.

It is expected to offer Indian startups pathways into Korean and broader Asian markets, strengthening cross-border collaboration in technology.

'India is at an inflection point. Over the next decade, we expect a new generation of Indian technology champions to be built in India, for the world. As fund manager and advisor of the Unicorn Growth Fund, Mirae Asset is privileged to bring together KRAFTON and Naver's strategic capabilities with our on-the-ground investing platform in India,' said Puneet Kumar, CEO, Mirae Asset Venture Investments (India) Private Limited.

'India is rapidly emerging as a global hub for digital innovation, powered by exceptional talent and a vibrant startup ecosystem. Building on our experience investing in leading Indian platforms, NAVER sees strong potential to support the next generation of AI-driven companies with global ambition. Through the Unicorn Growth Fund, we aim to combine capital, technology, and strategic partnerships to help Indian innovators scale globally,' said Soo-yeon Choi , Global CEO, Naver Corporation.

'India is one of the most important markets forKRAFTON, not just for its scale but for its potential as a global game development hub. With a strong base of young, skilled technology talent and improving digital infrastructure, we see India evolving from aconsumption-driven market to a creator economy for gaming. The Unicorn Growth Fund reflects our long-term commitment to this ecosystem,' said CH Kim, CEO, KRAFTON Inc.

The fund will be managed by Mirae Asset Venture Investments, which has previously backed Indian startups across sectors including fintech, mobility, healthcare and artificial intelligence.