Krafton said on the 19th that it will set up an Asia fund of up to 1 trillion won together with Naver and Mirae Asset Group.
The fund is named "Krafton-Naver-Mirae Asset Unicorn Growth Fund" (hereafter Unicorn Growth Fund). The Unicorn Growth Fund is a large fund that invests in major technology corporations in Asia, including Korea and India. The Unicorn Growth Fund is being prepared with a goal of being established in Jan. next year. Krafton said it will contribute an initial 200 billion won and begin operations at a scale of more than 500 billion won by combining capital from the three companies and outside investors.
This fund follows the "Asia Growth Fund" jointly created by Naver and Mirae Asset. That fund previously generated results by investing in unicorn corporations such as Zomato, India's No. 1 food delivery and quick commerce platform, and Grab, Southeast Asia's largest mobility platform.
Krafton, which has invested a cumulative $200 million (about 295 billion won) in India's digital entertainment market, is joining this follow-up fund as a new investor. Having established a solid foothold in India on the back of the success of "Battlegrounds Mobile India (BGMI)," Krafton will expand its investment footprint based on its experience in the Indian market.
By working with Naver, which has expertise in platforms, content, and AI, and Mirae Asset, which has a nationwide network in India and capital management capabilities, the partners plan to strengthen preemptive investments in promising Indian technology corporations. Major affiliates of Mirae Asset Group will participate in this fund and take charge of operations, focusing on fields where each has expertise and strengths.
Son Hyun-il, head of Krafton's India subsidiary, said, "We expect that collaboration with corporations leading each field will bring meaningful synergies," and noted, "Our participation in this fund is aimed at discovering sustainable businesses in India that create social and economic value as well as games."
Choi In-hyuk, head of Naver's tech business, said, "We are pleased to undertake strategic collaboration with Krafton, which has built a solid foundation in the Indian market," and added, "Based on Naver's capabilities in platforms, content, and AI, we will jointly contribute to discovering innovative Indian corporations and expanding the technology ecosystem."