Krafton-backed Blue Ocean Games launches $30 million fund to support Indie game developers

Blue Ocean Games, a new venture fund founded by former KRAFTON investment head Damian Lee, has launched a $30 million fund to empower early-stage indie game developers worldwide, with a sharp focus on emerging talent from India.

The fund aims to redefine how indie games are brought to life, starting from the earliest conceptual stages, and is backed by South Korean gaming giant KRAFTON Inc., the studio behind PUBG.

Providing $100K to $300K funding

The newly formed venture is introducing a novel investment framework called SAIL—Structured Agreement for Indie Launch—which provides up to $100,000 per developer and as much as $300,000 for teams over a two-year period. This capital injection is made available even before developers create a playable build.

What sets SAIL apart is that it hinges on market-validation milestones, instead of subjective internal reviews, ensuring creators stay aligned with player demand. The model also allows developers to retain full intellectual property rights, while striking a hybrid equity and revenue-sharing agreement that balances control and returns.

“There is a structural problem in the indie game industry where the gap between what investors are willing to fund, what developers dream of creating, and what players crave has grown too wide,” said Damian Lee, founder and managing partner of Blue Ocean Games. “Beyond simply filling a funding gap, we are trying to reimagine the ecosystem itself.”

Aiming to support up to 100 developers

The fund will support up to 100 developers over the next three years and offers more than just capital. Developers will also get incorporation support, bookkeeping services, and mentorship from seasoned industry professionals. Blue Ocean Games will organise developers into cohorts to promote knowledge-sharing and build a sense of collaborative community.

Highlighting the importance of India in its strategy, Sean Hyunil Sohn, CEO of KRAFTON India, said, “India is a powerhouse of creativity and technical skill, yet many brilliant ideas struggle to find early support. Blue Ocean Games introduces a forward-thinking investment model that gives indie developers critical financial backing at the earliest stages.”

Maria Park, Head of Corporate Development at KRAFTON Inc., added, “Blue Ocean Games offers indie developers a forward-thinking model that provides critical financial support that fosters a sustainable path to success. We’re looking forward to seeing the incredible games that emerge from the program.”

Launching "Rising Tide"

Blue Ocean Games is also launching “Rising Tide,” a new, ongoing series of online competitions and challenges designed to help developers validate ideas, gain recognition, and advance their projects—whether or not they seek funding.

The first Rising Tide challenge will launch on May 1, 2025, in partnership with Global Game Jam, with applications for direct funding opening simultaneously.

“Rising Tide is an idea proving ground for game developers at every stage and from every background,” explained Lee. “It's a great opportunity to validate ideas and gain the confidence needed to dedicate more time and resources to a project. Participants can pursue funding if they choose, but there's no obligation. By supporting developers at the concept stage with validation and potential funding, we are not just investing in games—we're investing in the future of the industry and the next generation of creative talent.”

Founded in Toronto with assistance from Toronto Global and the Embassy of Canada to South Korea, Blue Ocean Games is focused on funding “blue ocean” ideas—innovative, underserved concepts that have the potential to disrupt the market.