KRAFTON India, which established itself as a trailblazer in the gaming industry, has invested in IMM Investment’s Maiden India fund.
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Established in September 1999, IMM Investment Corp. is the leading alternative investment firm in Korea, focusing on venture capital, mezzanine, and infrastructure. With the longstanding trust of institutional investors, partners, and investment professionals, it continues to create significant values for portfolio companies, which consist of information technology, healthcare/biotech, and manufacturing.
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“Our partnership with IMM marks an exciting new chapter in our journey to foster India’s startup ecosystem. By introducing further South Korean capital, expertise, and global perspectives into the Indian market, we aim to help startups in critical sectors scale and thrive, ultimately strengthening India’s position on the world stage,” said Sean Hyunil Sohn, CEO, of Krafton India.
The IMM India Fund will invest in sectors such as consumer brands, consumer tech, SaaS, fintech, gaming and media, and deep technology to foster Indian innovation. The fund will primarily target growth-stage companies that have a clear path to an IPO, assisting with their growth and expansion.
Through this collaboration, KRAFTON India will channel South Korean capital into India, reaffirming its commitment to driving long-term growth in the gaming and complementary startup sectors.
IMM India Fund has successfully closed its first investment with Vellvette Lifestyle (Sugar Cosmetics), demonstrating its commitment to supporting dynamic Indian brands with strong growth potential to become category leaders.
“We are thrilled to be in the fast-growing Indian startup market. For 25 years, IMM Investment has invested in some remarkable startups in South Korea and supported them throughout different stages of growth. Krafton-IMM partnership in India will bring together deep expertise in the creation of a system to help support Indian startups,” said Il Bu Joung, president, IMM Investment.
Prakhar Khanduja, Managing Director, IMM Investment Corp., said, “India has witnessed remarkable hypergrowth across its economy, infrastructure, and startup ecosystem over the past decade. In the last 3-4 years, we have witnessed a shift in the mindset of Indian startups, and they are now focused on profitability, making them candidates for public market exits while maintaining growth. This makes them very attractive to global investors. The Indian market is also unique due to its large and diverse population, and founders are innovating to suit the Indian consumer base. We are particularly impressed by Sugar’s growth trajectory with high gross margins driven by its high-quality, unique product offerings and affordable pricing, which serve the large Gen Z population. With successful results, it became one of the leading cosmetics brands in the country.”
With an active investment approach, KRAFTON India has strategically channeled over $150 million into the Indian market between 2021 and 2023 and recently announced another $150 million to the Indian start-up ecosystem for the next two years. These investments primarily target gaming, technology start-ups, and media and entertainment sectors. With an India-first approach, KRAFTON remains committed to fostering holistic growth of the gaming and startup ecosystem in the country, and as a part of this objective, KRAFTON launched the KRAFTON India Gaming Incubator in October 2023 (KIGI).
IMM Investment today is a leading firm in the Korean alternative investment market. However, the position as a top player in the Korean capital market was not achieved in one day. IMM Investment has built up its track record with the strong management team based on partnership, working to increase the value of portfolio companies and distribute returns to LP investors.
About KRAFTON India
KRAFTON India is driven by its unwavering commitment to delivering distinctive and enjoyable gaming experiences. It takes immense pride in its premier entertainment properties, including highly popular titles like Battlegrounds Mobile India (BGMI), Road To Valor: Empires, Garuda Saga, Defense Derby, and New State Mobile. These games have not only captured the hearts of Indian players but have also played a pivotal role in fostering a thriving e-sports ecosystem in the country. By organizing India-centric events and delivering localized content, KRAFTON India has made substantial contributions to the growth of e-sports in India.
