GAMING MAJOR KRAFTON is set to lead a new $666 million investment fund in Asia, partnering with fellow South Korean firms Naver and Mirae Asset to expand beyond gaming into a broader portfolio of technology start-ups, with India as a key focus.
The launch of the fund highlights South Korea’s growing economic presence in India. Cumulative foreign direct investment from South Korea stood at approximately $6.8 billion by mid-2025, according to government data cited by Reuters, as Seoul looks to diversify supply chains and consumer market exposure away from China.
Named the Unicorn Growth Fund, the initiative marks the first significant joint venture in India involving Krafton, Naver and Mirae Asset. Krafton is widely recognised in the country for its mobile gaming title Battlegrounds Mobile India (BGMI).
Managed by Mirae Asset Venture India, the fund is expected to commence operations in January 2026 with an initial corpus of more than $333 million, before gradually scaling up to its full target size, Krafton said on Friday.
Separately, Krafton has already invested over $200 million in India, including significant exposure to the country’s gaming sector, which has often been affected by regulatory uncertainty.
BGMI, which has recorded more than 240 million downloads, was temporarily banned in recent years over data security concerns. The title was launched after India banned Krafton’s earlier hit PlayerUnknown’s Battlegrounds (PUBG) in 2020, citing concerns around data sharing with China.
