Mumbai, Aug. 13 -- Mirae Asset Venture Investments India (MAVI India) has launched its second early-stage fund with a target corpus of about Rs.1,800 crore, along with a green shoe option of Rs.700 crore, a top executive at the company said.

The investment firm has already marked the first close of the fund, with Rs.1,020 crore coming from the Rs.6,000 crore Unicorn Growth Fund, backed by South Korean technology companies KRAFTON Inc. and Naver Corp. Mirae Asset invested an additional Rs.105 crore through its Indian group companies, taking the total first close to Rs.1,125 crore.

"This is the first alternate investment fund (AIF) backed by the Unicorn Growth Fund. We expect to do more as part of this partnership with other Korean compan...