In a significant leadership move, Mirae Asset Venture Investments (India) has named former SteadView Capital managing director Puneet Kumar as the new chief executive officer of its venture capital and private equity investment arm. Kumar's appointment is aimed at refining the firm's investment approach and strengthening its position in India's competitive startup funding ecosystem.
A Strategic Hire for Aggressive Growth
The decision to bring Kumar on board comes at a pivotal moment for India's venture capital industry. The market is witnessing a surge in technology-led initial public offerings (IPOs), and investors are sitting on substantial liquidity, setting the stage for robust investment activity in the coming year. For Mirae's Indian venture business, the environment has grown fiercely competitive over recent years, pushing the firm to adopt a more aggressive stance in sourcing and securing high-quality deals.
Kumar's mandate will be to establish Mirae Asset as a preferred investor for both startup founders and other venture capital funds. He brings a proven track record from his previous role at SteadView Capital, where he served as managing director for a fund focused on technology and India. During his tenure there, SteadView invested in more than 30 companies, including notable names like Eternal (Zomato), Nykaa, Freshworks, Innovaccer, Chargebee, Ultrahuman, Atomberg, AEQUS, and Moengage. Impressively, nine portfolio companies went public while he was at the firm.
Mirae's Expanding Footprint in India
Globally, Mirae's venture investment strategy spans technology, media and telecom (TMT), emerging businesses, lifesciences, healthcare, deeptech, and energy. Its Indian portfolio features marquee investments such as Eternal (formerly Zomato), Dhan parent Raise, Shadowfax, KreditBee, and Big Basket.
As of 30 November 2025, the firm manages total assets worth over ₹1,477 crore in India through two Category II alternate investment funds. The India team is also poised to take a central role in managing a new India-focused technology investment fund announced by South Korean gaming giant Krafton in partnership with Naver and Mirae Asset.
Global Context and Local Ambitions
While Mirae's global venture capital investments are heavily concentrated in Southeast Asia, Korea, and China, with some exposure in the US, the Indian operation is gaining strategic importance. The global venture capital assets under management are substantially larger, standing at approximately $4.4 billion. Mirae Asset Venture Investments (India) operates as the private investing arm of South Korea-based Mirae Asset Global Investments, a financial services behemoth with a presence in 19 countries and over $300 billion in assets under management as of the same date.
Expressing his enthusiasm, Puneet Kumar stated, "Joining an organisation with such a diversified portfolio, a global footprint, and a strong governance framework presents a unique opportunity to build one of the leading private investment franchises in India."
This leadership change signals Mirae Asset's intensified commitment to capturing a larger share of India's dynamic startup story, leveraging Kumar's expertise to navigate a market ripe with exit opportunities and fresh capital.
