"Krafton, the South Korean gaming company behind hit titles such as PUBG and Battlegrounds Mobile India (BGMI), is launching a growth investment fund focused on India, stepping up its push into the world's largest internet user base. Called the Unicorn Growth Fund, the investment vehicle is a collaboration between Krafton and South Korean internet conglomerate Naver, and investor Mirae Asset."
"It aims to deploy up to ₹60 billion (around $669.3 million) over four years, Krafton confirmed to TechCrunch. The fund, which will be managed by Mirae Asset Venture India, is expected to be established in January and begin operations with an initial size of more than ₹30 billion (about $334.6 million). Krafton will contribute ₹12.3 billion (approximately $137.2 million) at the first close, the company said."
"Naver's capital commitment is expected to be "broadly comparable" to Krafton's $137 million investment, a Krafton spokesperson told TechCrunch. The fund will not operate with rigid country-allocation thresholds, and typical investment sizes are expected to range between $10 million and $30 million, the spokesperson said. Krafton said investments through the new fund would primarily be treated as financial positions rather than strategic bets, though the level of engagement with portfolio companies could vary depending on the opportunity and long-term potential of each business."
Krafton is launching the Unicorn Growth Fund with Naver and Mirae Asset to invest in Indian startups, targeting deployment of up to ₹60 billion over four years. The fund will be managed by Mirae Asset Venture India and aims to start operations with an initial corpus above ₹30 billion, with Krafton committing ₹12.3 billion at first close. Typical investments will range from $10 million to $30 million and will primarily be treated as financial positions, with variable engagement depending on opportunity. Krafton has already invested over $200 million in India, launched a gaming incubator, and acquired Nautilus Mobile; BGMI faced a government ban.
Read at TechCrunch
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