KRAFTON India has become the anchor investor in IMM Investment’s newly launched IMM India Fund.
IMM Investment, a prominent South Korean investment firm with around $7 billion in assets under management, has designed the India fund to focus on growth-stage companies in the country, particularly in sectors such as consumer brands, consumer tech, SaaS, fintech, gaming and media, and deeptech.
The IMM India Fund aims to support Indian startups that exhibit a clear trajectory toward an IPO. It has already closed its first investment in Vellvette Lifestyle (Sugar Cosmetics).
“We are thrilled to be in the fast-growing Indian startup market. For 25 years, IMM investment has invested in some remarkable startups in South Korea and supported them throughout different stages of growth. KRAFTON-IMM partnership in India will bring together deep expertise in the creation of a system to help support Indian startups,” Il Bu Joung, President of IMM Investment, said.
Krafton, the South Korean gaming giant behind BGMI (Battlegrounds Mobile India), has actively invested in India’s startup ecosystem since 2021, focusing on gaming, content creation, and tech innovation. It initially committed around $170 million in various Indian startups, with investments in esports, digital content platforms, and the creator economy.
Apart from direct investments, KRAFTON India’s investment strategy also includes a fund-of-funds approach, enabling it to tap into high-potential sectors outside its core focus.
KRAFTON India has also invested in VC funds such as 3one4 Capital and Lumikai. It also runs the Krafton India Gaming Incubator, which aims to bolster the Indian gaming ecosystem by providing support to aspiring game developers and startups.
“Our partnership with IMM marks an exciting new chapter in our journey to foster India’s startup ecosystem. By introducing further South Korean capital, expertise, and global perspectives into the Indian market, we aim to help startups in critical sectors scale and thrive, ultimately strengthening India’s position on the world stage,” said Sean Hyunil Sohn, CEO of KRAFTON India.
“This collaboration aligns with the government’s Invest India initiative and strengthens the investor relations between India and South Korea while accelerating growth for Indian startups,” he added.
