KRAFTON plans India-focused fund of up to Rs 6,000 Cr with NAVER, Mirae Asset
The company that built PUBG and BGMI is planning an additional Rs 6,000 crore funding drop into Indian startups as KRAFTON looks to play a longer game beyond mobile gaming and invest across India’s fast-growing tech ecosystem.
KRAFTON Inc. plans to establish an India-focused investment fund of up to Rs 6,000 crore in partnership with South Korea’s NAVER Corp. and Seoul-headquartered Mirae Asset.
The fund, named the KRAFTON-NAVER-MIRAEASSET Unicorn Growth Investment Fund, will target growth-stage technology companies across Asia, with India as the core investment market. The fund is expected to be established in January and begin operations with more than Rs 3,000 crore, supported by contributions from the three partners and external investors.
KRAFTON will commit an initial Rs 1,230 crore to the fund, according to the statement. The fund will be managed by Mirae Asset Venture India and marks the first collaboration between KRAFTON, NAVER and Mirae Asset in the Indian market.
“We expect that the collaboration among Korea’s leading companies will generate meaningful synergies,” KRAFTON India Chief Executive Officer 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”
The fund will focus on sectors including consumer goods, sports, media and healthcare, expanding KRAFTON’s investment scope beyond gaming. The company has invested more than $200 million in India’s digital entertainment market and operates the popular mobile game Battlegrounds Mobile India, which has surpassed 240 million downloads.
NAVER said the partnership aligns with its strategy to support technology-led growth in India. “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,” said Choi In-hyuk, President of Naver Tech Business.
Mirae Asset will provide capital management and local market expertise through its India venture arm. The companies said the fund reinforces India’s position as a key market in KRAFTON’s long-term growth strategy, building on its existing investments and gaming incubator initiatives in the country.
Edited by Jyoti Narayan