The Indian arm of gaming company Krafton has backed IMM Investment’s first Indian fund as lead sponsor.

Seoul-based IMM Investment, an early backer of Krafton and investor in about half of South Korea’s unicorns, marked the Indian fund’s first close and hired former Legend Capital partner Prakhar Khanduja , to direct it.

Nihansh Bhat, head of corporate development at Krafton India, told TechCrunch that IMM’s investment would help the gaming company tap into new categories and business lines. He said the company would continue to look for similar opportunities in the country.

This is the third venture capital firm backed by Krafton in India, after 3one4 Capital and Lumikai. Krafton has invested more than $170 million in the country and has set aside an additional $150 million for investment.

Khanduja said IMM Investment India would look to back startups at the Series A stage or later, operating in sectors such as consumer, technology, SaaS, fintech, gaming, media and deep tech . The Indian unit’s first investment was in Sugar, a leading cosmetics brand.