Krafton is teaming up with Naver and Mirae Asset Group to launch an Asia-focused fund, with a total war chest reaching up to 1 trillion won.

Dubbed the 'KRAFTON-NAVER-MIRAEASSET Unicorn Growth Investment Fund' (hereafter referred to as the Unicorn Growth Fund), this massive capital pool is set to hunt for promising tech firms across South Korea, India, and the broader Asian market.

This venture acts as a successor to the 'Asia Growth Equity Fund,' previously established by Naver and Mirae Asset. That fund proved its worth by backing heavy hitters like Zomato, India’s top food delivery and quick-commerce platform, and Grab, Southeast Asia’s leading mobility giant.

Krafton, having already funneled over 200 million dollars (approximately 295 billion won) into the Indian digital entertainment sector, is bringing its expertise to the table. Having firmly cemented its presence in the region with 'BATTLEGROUNDS MOBILE INDIA' (BGMI), the company is now looking to broaden its investment horizons.

By marrying Naver’s prowess in platforms, content, and AI with Mirae Asset’s extensive Indian network and capital management skills, the partners aim to get a head start on investing in cutting-edge Indian tech. Key subsidiaries of Mirae Asset Group will also join the fray, each steering operations within their specific niches.

Sohn Hyun-il, CEO of Krafton India, noted, "We expect this collaboration with industry leaders to unlock significant synergies." He added, "Participating in this fund is about more than just games; we want to cultivate sustainable businesses that provide social and economic value in India. We aim to become a brand trusted by both the Indian government and its people by exploring opportunities in consumer goods, sports, media, and healthcare."

Choi In-hyuk, CEO of Naver Tech Business, remarked, "It is truly meaningful to forge this strategic partnership with Krafton, given their established footprint in India. We intend to leverage Naver's expertise in platforms, content, and AI to help identify innovative Indian firms and expand the local tech ecosystem."

Meanwhile, the Unicorn Growth Fund is slated to launch next January. Krafton is leading the charge with an initial commitment of 200 billion won, aiming to kick off operations with a total fund size exceeding 500 billion won once external capital is factored in.