MUFG-backed Dragon Funds eyes $600m second fund for India and Asia-Pacific startups
Dragon Funds plans to begin fundraising next year for a $600 million second fund targeting late-stage financial services, consumer and enterprise businesses. The investor, whose India portfolio includes Meesho and Zepto, expects cheque sizes of $50–80 million.
What happened
MUFG-backed Dragon Funds plans to raise a $600 million second fund next year, targeting late-stage financial services, consumer and enterprise startups in India
Key facts
- $600 million planned second fund
- $500 million first fund
- $400 million deployed from first fund
- Eight companies funded
- About half of capital invested in Indian startups
What changed
MUFG-backed Dragon Funds plans to raise a $600 million second fund next year, targeting late-stage financial services, consumer and enterprise startups in India and Asia-Pacific. Its Indian portfolio includes Meesho and Zepto, with $50-80 million investment tickets planned.
Why this matters
Dragon Funds’ planned $600 million vehicle signals continued appetite for scaling Indian consumer and retail-tech platforms, potentially expanding capital availability for high-growth retail partners and suppliers.