Korean trio Krafton, Naver, Mirae Asset to set up India-focused fund of up to Rs 6,000 crore

South Korean gaming company Krafton, internet major Naver, and asset management firm Mirae Asset are setting up an India-focussed investment fund with a target size of up to Rs 6,000 crore, stepping up their bets on India’s technology and startup ecosystem.

The fund, to be named the 'Krafton Naver Mirae Asset Unicorn Growth Investment Fund', will back growth-stage technology companies across Asia, with India expected to be a key focus market. It is slated to be launched in January and will be managed by Mirae Asset Venture India.

In a statement on Friday, the companies said that Krafton, which runs Battlegrounds Mobile India (BGMI), will commit an initial Rs 1,230 crore to the fund. Together with contributions from Naver, Mirae Asset, and other investors, the fund is expected to begin operations with a total size of over Rs 3,000 crore, and the overall corpus expected to reach Rs 6,000 crore over time.


The move marks the first investment partnership between the three Korean companies in India.

"We aim to discover sustainable businesses in India that create social and economic value, in addition to gaming," Krafton India CEO Sean (Hyunil) Sohn said.

While it is best known in India for BGMI, Krafton said the new fund would invest beyond gaming, targeting sectors such as consumer goods, fintech, content, logistics, healthcare, sports, and media.

The company has invested more than $200 million in India since 2021, backing companies across the gaming, esports, and interactive entertainment segments.

Some of its India investments include Nodwin Gaming, Loco, Kuku FM, and Pratilipi. The company also runs the Krafton India Gaming Incubator, aimed at supporting early-stage game developers.

Last year, the firm announced a partnership with IMM Investment, a multi-asset South Korean fund that manages about $7 billion, to back startups across sectors such as consumer technology, software-as-a-service (SaaS), fintech, gaming, media, and deep tech.

Krafton’s latest investment plans come months after India imposed a blanket ban on online real-money games, prompting major platforms such as Dream11, Mobile Premier League, and Winzo to suspend their real-money gaming services.

In an interaction with ET last year, Krafton CEO CH Kim said the company was sharpening its India focus by not only topping up current investments, but also exploring different avenues to expand its presence in the country.