MOL PLUS to invest in India’s Chiratae Ventures International Fund Ⅴ

MOL PLUS Co., Ltd. today announced its decision to invest in Chiratae Ventures International Fund V, managed by Chiratae Ventures Offshore Manager LLP, an Indian venture capital fund (VC fund). This marks MOL PLUS’s second investment in an Indian VC fund, following its investment in Theia Ventures).

Chiratae Ventures––a VC fund established in India in 2006––has about 20 years of investment experience, extending back to the early days of India’s startup ecosystem. To date, it has managed 7 funds with a total of roughly USD 1.3 billion in assets under management. It is one of India’s most established VC funds, with cumulative investments in over 130 companies and around 65 exits—including 5 IPOs.

MOL PLUS views India as one of its key investment regions and recognizes that a partnership with an expert in the local market is essential. This investment in Chiratae Ventures is expected to provide MOL PLUS with greater access to the VC fund’s high-quality deal flow, leading to new business opportunities for the MOL Group and enhancing collaboration opportunities with promising startups.

"Chiratae has been working on the Indo-Japan Digital corridor for the last 5-6 years and we are happy to engage with MOL PLUS as they explore the Indian venture ecosystem. We believe the engagement would be value accretive for Indian DeepTech and mobility startups as well for MOL PLUS to engage with innovation in India", says Sudhir Sethi, Founder and Chairman of Chiratae Ventures.

"Since 2024, our engagement with India’s vibrant VC and startup ecosystem has been deeply enriching. Our partnership with Chiratae Ventures, a leading Indian VC firm with deep local expertise and a strong track record in scaling high-growth companies marks a significant milestone in expanding MOL PLUS’s footprint in India. By combining Chiratae’s strong market understanding with MOL Group’s global capabilities, we aim to accelerate the creation of new business opportunities with India’s next generation of entrepreneurs and create sustainable and long-term value for both ecosystems." says Capt. Shantanu, Head of India Desk Growth Manager of MOL PLUS.