Krafton, the South Korean gaming company known for popular titles like PUBG and Battlegrounds Mobile India (BGMI), is set to expand its presence in India with a new growth investment fund. Named the Unicorn Growth Fund, this initiative is a collaboration between Krafton, South Korean internet conglomerate Naver, and investor Mirae Asset, aiming to invest around $669.3 million over four years in the Indian market.
The fund, managed by Mirae Asset Venture India, is expected to commence operations in January with an initial size exceeding $334.6 million. Krafton will contribute around $137.2 million at the fund’s first close. The fund will not be limited by specific country-allocation thresholds, with investments typically ranging from $10 million to $30 million per project.
Krafton’s approach with this fund is primarily financial, though the level of engagement with portfolio companies may vary based on each business’s potential. This move underscores Krafton’s commitment to India, where it has already invested over $200 million in various sectors such as gaming, content, and fintech. Recent investments include backing fintech company Cashfree and venture fund IMM Investment, among others.
Despite facing challenges, including the ban of BGMI in India, Krafton’s strategic investments and initiatives demonstrate its long-term vision for the Indian gaming market.
Source: TechCrunch
Leave a Reply