In a landmark move for India's technology investment landscape, the South Korean powerhouse behind Battlegrounds Mobile India (BGMI), Krafton Inc., has announced a massive new fund dedicated to the Indian market. The company has joined forces with internet giant Naver and financial services leader Mirae Asset to create a fund worth up to Rs 6,000 crore.
A Strategic Alliance of Korean Titans
This initiative, named the Krafton-Naver-MiraeAsset Unicorn Growth Investment Fund, marks the first-ever collaborative investment effort in India by these three major Korean corporations. The fund is strategically designed to target high-growth technology companies across Asia, with a clear and central focus on the Indian ecosystem.
Operations for the fund are scheduled to commence in January next year. It will kick off with an initial corpus of over Rs 3,000 crore. Krafton has committed Rs 1,230 crore as its initial investment, with the remaining capital being contributed by its partners Naver and Mirae Asset, along with other external investors. The fund will be managed by Mirae Asset Venture India.
Broadening Horizons Beyond Gaming
While Krafton is globally renowned for its gaming titles, this fund signals a significant strategic expansion. The investment vehicle aims to tap into India's rapidly evolving tech sectors beyond digital entertainment. Key areas of interest include Artificial Intelligence (AI), fintech, content creation, logistics, consumer goods, sports, media, and healthcare.
This move builds upon Krafton's existing commitment to India, where it has already invested over USD 200 million in the digital entertainment and gaming market. The new fund represents a deliberate pivot to discover and nurture sustainable businesses that create broader social and economic value.
Commenting on the ambitious plan, Krafton India CEO Sean (Hyunil) Sohn stated, "Our participation in this fund aims to discover sustainable businesses in India that create social and economic value in addition to gaming. By exploring investment opportunities in various sectors such as consumer goods, sports, media and healthcare, we plan to position ourselves as a brand trusted by its people."
Synergizing Strengths for India's Growth
The partnership leverages the unique strengths of each Korean entity. Krafton brings its deep local market experience and understanding of Indian consumer dynamics, particularly from its gaming operations. Naver contributes its formidable expertise in running large-scale platform, content, and AI-driven businesses. Mirae Asset adds its robust capital management capabilities and a strong existing investment network within India.
Choi In-hyuk, President of Naver Tech Business, emphasized the collaborative vision: "Leveraging Naver's platform, content, and AI capabilities, we aim to jointly support the discovery of innovative Indian companies and contribute to the expansion of the local technology ecosystem."
This fund solidifies India's position as a cornerstone of Krafton's long-term global strategy. It complements the company's other India-focused initiatives, most notably the Krafton India Gaming Incubator (KIGI), which is dedicated to nurturing early-stage gaming startups. Together, these efforts underscore a comprehensive and sustained commitment to fostering innovation and entrepreneurship in one of the world's most vibrant tech markets.
