BENGALURU, Dec 19 (Reuters) – Gaming giant Krafton will lead a new $666 million investment fund in Asia, partnering with South Korean peers Naver and Mirae Asset to diversify beyond gaming into a wider pool of tech startups, primarily in India.
The fund’s launch underscores South Korea’s deepening economic footprint in the South Asian nation. Cumulative foreign direct investment from South Korea reached roughly $6.8 billion by mid-2025 in India, according to government data, as Seoul seeks to diversify supply chains and consumer market exposure away from China.
The “Unicorn Growth Fund” marks the first major joint venture between the three South Korean majors in India, where Krafton is best known for its mobile hit Battlegrounds Mobile India (BGMI).
The fund, which will be managed by Mirae Asset Venture India, expects to begin operations in January 2026 with an initial pool of over $333 million before scaling to its total target, Krafton said on Friday.
Krafton has separately invested more than $200 million so far in India, including in its gaming sector, which is often riddled with regulatory volatility.
BGMI, which currently boasts over 240 million downloads, has faced a temporary ban in recent years over data security concerns.
It was launched in India following New Delhi’s 2020 ban of Krafton’s popular game PlayerUnknown’s Battlegrounds (PUBG), citing concerns about data sharing with China.
($1 = 90.0650 Indian rupees)
(Reporting by Munsif Vengattil in Bengaluru; Editing by Stephen Coates)
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