Mitsui O.S.K. Lines’ investment firm MOL PLUS has announced its plans to invest in Chiratae Ventures International Fund V, managed by India-headquartered 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.
Tokyo-based MOL PLUS is a company established in 2021 by Japanese shipping group Mitsui O.S.K. Lines (MOL) to invest in startup companies and promote collaboration with MOL Group businesses.
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 $1.3bln in assets under management, MOL PLUS said.
It is one of India’s most established VC funds, according to MOL PLUS, with cumulative investments in over 130 companies and around 65 exits – including 5 IPOs.
MOL PLUS highlights that India is one of its key investment regions and 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 deal flow, leading to new business opportunities for the MOL Group and enhancing collaboration opportunities with startups, the statement of MOL PLUS reads.
Capt. Shantanu, head of India desk growth manager of MOL PLUS, said: “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,” he added.
Established in 2006, Chiratae Ventures International Fund V is focused on key investment sectors such as consumer Tech, FinTech, HealthTech, SaaS/AI, B2B sectors (including supply chains and manufacturing), and Deep Tech.
