MUFG merges Ganesha into Dragon, lines up $600M second fund with India consumer bets in focus
Japan's MUFG is folding its Ganesha vehicle into Dragon Funds and prepping a $600M follow-on targeting growth-stage tech. Dragon's India consumer book already includes Meesho, Zepto, MoEngage and KreditBee, signalling deeper capital flow into retail-adjacent platforms.
MUFG is consolidating its Ganesha Fund into Dragon Funds and plans a second $600 million fund targeting growth-stage tech, with India as core focus. Dragon has previously backed Indian consumer startups Meesho, Zepto, MoEngage and KreditBee.