KRAFTON, Naver launch Rs 6,000 Cr India-focused Unicorn Growth Fund
The fund was announced following a meeting between Indian and South Korean diplomats and CEOs on the sidelines of the South Korean President’s visit to the country.
Two of South Korea’s largest technology companies, KRAFTON Inc and Naver Corporation, have partnered with Mirae Asset Venture Investments to launch a Rs 6,000 crore India-focused Unicorn Growth Fund.
The plans of setting up this fund was announced late last year.
The announcement was made during a meeting attended by Union Minister for Commerce & Industry Piyush Goyal; Republic of Korea’s Minister of Trade, Industry and Resources Dr Jung-Kwan Kim; global CEOs of KRAFTON and Naver, and the CEO of Mirae Asset Venture Investments (India) Private Limited.
The meeting happened on the sidelines of the South Korean President Lee Jae Myung's official visit to India, held for strategic bilateral discussions with Prime Minister Narendra Modi and senior members of his Cabinet.
According to the companies, the fund will be managed and advised by Mirae Asset Venture Investments, the private investment arm of Mirae Asset Group.
“India is at an inflection point. Over the next decade, we expect a new generation of Indian technology champions to be built in India, for the world. As fund manager and advisor of the Unicorn Growth Fund, Mirae Asset is privileged to bring together KRAFTON and Naver’s strategic capabilities with our on-the-ground investing platform in India,” said Puneet Kumar, CEO, Mirae Asset Venture Investments (India) Private Limited.
The new fund will focus on themes that are expected to shape the next decade of Indian technology economy such as consumer internet, digital marketplaces, consumer discretionary sector which includes digitally native brands and new age consumer businesses, AI and software, and deep-tech which includes startups building in semiconductors, space-tech, robotics, advanced materials, and frontier science.
“India is rapidly emerging as a global hub for digital innovation, powered by exceptional talent and a vibrant startup ecosystem. Building on our experience investing in leading Indian platforms, NAVER sees strong potential to support the next generation of AI-driven companies with global ambition. Through the Unicorn Growth Fund, we aim to combine capital, technology, and strategic partnerships to help Indian innovators scale globally,” said Soo-yeon Choi , Global CEO, Naver Corporation.
“India is one of the most important markets forKRAFTON, not just for its scale but for its potential as a global game development hub. With a strong base of young, skilled technology talent and improving digital infrastructure, we see India evolving from aconsumption-driven market to a creator economy for gaming. The Unicorn Growth Fund reflects our long-term commitment to this ecosystem,” said CH Kim, CEO, KRAFTON Inc.
The fund will invest primarily in growth-stage companies, the companies noted.
Edited by Megha Reddy