MUFG merges Ganesha into Dragon Funds, plans $600M second vehicle for India consumer-tech bets
Japan's MUFG is folding its India-focused Ganesha Fund into the broader Dragon Funds platform and lining up a $600 million successor vehicle, deepening growth-capital exposure to Meesho, Zepto, MoEngage and KreditBee.
MUFG is consolidating its India-focused Ganesha Fund into Dragon Funds and plans a $600 million second fund, deepening growth-capital exposure to Indian tech and consumer startups including Meesho, Zepto, MoEngage and KreditBee.
Why this matters
MUFG's consolidation of Ganesha into Dragon Funds reflects a broader push by Japanese financial institutions to scale India exposure, with consumer-tech leaders like Meesho and Zepto anchoring the strategy.
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