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Economic Times
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Gaming firm Krafton backs South Korean IMM Investment's maiden India fund
- Krafton India, the local unit of the South Korean maker of Battlegrounds Mobile India, has become the anchor investor in IMM Investment’s maiden India fund.
- The IMM India Fund is an extension of IMM Investment, a multi-asset South Korean fund managing $7 billion in assets.
- IMM’s investments range from $1 million in seed funding to about $1 billion in growth equity or infrastructure capital.
- The fund will primarily target growth-stage companies with strong potential for an initial public offering, leveraging South Korean expertise and capital.
- Krafton India’s strategy includes a fund-of-funds approach, allowing it to tap into high-potential sectors beyond its core focus.
- Krafton has invested about $170 million in several Indian startups.
- Krafton’s other investments in India include Nodwin Gaming, Pratilipi, KukuFM and Loco.
- Krafton Inc. announced plans to invest $150 million in Indian startups over the next two to three years.
- IMM India Fund has closed its first investment in Vellvette Lifestyle, the parent company of Mumbai-based beauty and personal care brand Sugar Cosmetics.
- The Krafton-IMM partnership in India will bring together deep expertise in the creation of a system to help support Indian startups.
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