PUBG maker Krafton, Naver, Mirae Asset to set up Rs 6,000-crore fund to invest in Indian startups

South Korean gaming company Krafton is partnering with Naver and Mirae Asset to set up an India-focused investment fund aimed primarily at backing growth-stage tech startups.

The fund, titled the KRAFTON-NAVER-MIRAEASSET Unicorn Growth Investment Fund, will target a corpus of up to Rs 6,000 crore and place India at the centre of its Asia investment strategy.

Structured as a large-scale growth fund, the Unicorn Growth Fund will back leading technology companies across Asia, with a clear emphasis on India’s rapidly expanding startup ecosystem.

The fund is currently being readied for launch and is expected to begin operations in January 2026. It will be managed by Mirae Asset Venture India.

KRAFTON will anchor the vehicle with an initial commitment of Rs 1,230 crore. Along with contributions from NAVER, Mirae Asset and external investors, the fund is expected to start operations with a total size of over Rs 3,000 crore, with scope to scale up to the full Rs 6,000 crore target.

The initiative builds on KRAFTON’s growing footprint in India, where it has invested more than $200 million since 2021 across gaming and digital startups. Its Indian portfolio includes hyperlocal community platform Shuru, fintech firm Cashfree Payments, and game studio Nautilus Mobile, in which it acquired a controlling stake. Earlier investments also span companies such as Nodwin Gaming, Loco, Kuku FM and Pratilipi.

Battlegrounds Mobile India (BGMI) has played a central role in strengthening KRAFTON’s presence in the country, recording hundreds of millions of downloads and contributing significantly to the growth of India’s mobile gaming ecosystem.

In August 2023, KRAFTON had announced plans to deploy $150 million over two to three years into Indian gaming and entertainment startups, with a focus on early-stage studios, esports platforms and multimedia content ventures.

“This collaboration among Korea’s leading companies will generate meaningful synergies,” said Sean (Hyunil) Sohn, CEO of KRAFTON India. “Our participation in this fund aims to discover sustainable businesses in India that create social and economic value in addition to gaming. By exploring investment opportunities across multiple sectors, we plan to position ourselves as a brand trusted by its people.”

Choi In-hyuk, President of NAVER Tech Business, said the partnership reflects NAVER’s growing engagement with the Indian market. “We are pleased to pursue a strategic collaboration with KRAFTON, which has built a strong foundation in the Indian market. Leveraging NAVER’s platform, content and AI capabilities, we aim to jointly support the discovery of innovative Indian companies and contribute to the expansion of the local technology ecosystem,” he said.