New Delhi, Dec. 19 -- South Korea-based gaming major Krafton is setting up an India-focused investment fund of up to Rs 6,000 crore ($665.3 million) in partnership with South Korea's leading internet portal operator Naver and South Korean financial services group Mirae Asset, marking a rare joint investment by three leading Korean companies in the Indian market.
The proposed fund, named the Krafton-Naver Mirae Asset Unicorn Growth Investment Fund, will back growth-stage technology companies across Asia, with India positioned as the core market, the company said.
The fund is expected to be launched in January next year and begin operations with an initial corpus of over Rs 3,000 crore. Krafton will commit Rs 1,230 crore at the outset, while Naver, Mirae Asset, and external investors will contribute the remaining capital. Mirae Asset Venture India will manage the fund.
Krafton said that the move deepens its long-term focus on India, following cumulative investments of more than $200 million in the country's digital entertainment and technology ecosystem since 2021. The company said the fund will allow it to expand beyond gaming into sectors such as artificial intelligence, fintech, content, logistics, consumer goods, sports, media, and healthcare.
India has emerged as one of the fastest-growing technology and startup hubs globally, driven by strong domestic demand, improving digital infrastructure, and a growing pool of innovation-led companies, Krafton said.
"With a solid footing in the local market supported by the success of Battlegrounds Mobile India, Krafton plans to leverage the experience it has accumulated in India to further expand its investment scope," the company said.
The fund also builds on initiatives such as the Krafton India Gaming Incubator, which focuses on early-stage game developers.
Krafton India CEO Sean Hyunil Sohn said, "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."
Naver also highlighted India as a strategic growth market for technology investments. "We are pleased to pursue a strategic collaboration with KRAFTON, which has built a strong foundation in the Indian market," said Choi In-hyuk, president of Naver Tech Business. "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."
Published by HT Digital Content Services with permission from VC Circle.