KRAFTON India has become the lead investor in IMM Investment’s new IMM India fund.

IMM Investment, a major South Korean investment firm with approximately $7 billion in assets under management, designed the India fund to focus on the country’s growth-stage companies, particularly in sectors such as consumer brands, consumer technology, SaaS, fintech, game and media, and deeptech.

The IMM India fund aims to support Indian startups that have a clear trajectory towards an IPO. It has already finalized its first investment in Vellvette Lifestyle (Sugar Cosmetics).

“We are excited to be present in the growing Indian startup market. For 25 years, IMM Investment has invested in remarkable startups in South Korea and supported them through various stages of growth. The KRAFTON-IMM partnership in India will bring together deep expertise. in creating a system to help support Indian startups,” said Il Bu Joung, Chairman of IMM Investment.

Krafton, the South Korean gaming giant behind BGMI (Battlegrounds Mobile India), has actively invested in the Indian startup ecosystem since 2021, focusing on gaming, content creation and technology innovation. It initially committed around $170 million to various Indian startups, with investments in esports, digital content platforms and the creator economy.

In addition to direct investments, KRAFTON India’s investment strategy also includes a fund of funds approach, allowing it to tap into high-potential sectors outside its core focus.

KRAFTON India has also invested in venture capital funds such as 3one4 Capital and Lumikai. It also runs the Krafton India Gaming Incubator, which aims to strengthen the Indian gaming ecosystem by providing support to budding game developers and startups.

“Our partnership with IMM marks an exciting new chapter in our journey to foster the startup ecosystem in India. By introducing more South Korean capital, expertise and global perspectives to the Indian market, we aim to help startups in critical sectors grow and thrive, thereby enhancing their potential. India’s position on the global stage,” said Sean Hyunil Sohn, CEO, KRAFTON India.

“This collaboration aligns with the government’s Invest India initiative and strengthens investor relations between India and South Korea while accelerating the growth of Indian startups,” he added.