Krafton Joins IMM Investment’s New India Fund as Anchor
Gaming powerhouse Krafton has deepened its footprint in the Indian market by serving as the anchor limited partner for IMM Investment’s inaugural India-focused fund. This strategic move marks a significant expansion for the Seoul-based investment firm, which has historically played a pivotal role in backing half of South Korea’s unicorns.
To spearhead its operations in the region, IMM Investment has appointed Prakhar Khanduja, formerly a partner at Legend Capital, to lead the new vehicle. The firm has already completed its first close, signaling a swift entry into the local venture ecosystem.
Strategic Expansion and Investment Focus
For Krafton, the partnership is a calculated effort to diversify its interests beyond its core gaming business. Nihansh Bhat, who leads corporate development for Krafton India, noted that the collaboration allows the company to explore emerging business categories and sectors. He confirmed that Krafton remains actively on the lookout for similar strategic opportunities within the country.
The fund’s investment mandate is broad, focusing on startups that have reached at least the Series A stage. According to Khanduja, the firm is prioritizing companies operating within:
- Consumer and retail brands
- Technology and SaaS
- Fintech and Media
- Deep tech
The Indian unit has already made its debut investment, backing the prominent cosmetics brand Sugar.
Krafton’s Growing Indian Portfolio
This commitment to IMM Investment represents the third venture firm Krafton has supported in India, following previous partnerships with 3one4 Capital and Lumikai. The gaming firm has already deployed over $170 million into the Indian market and has set aside an additional $150 million for future investments, underscoring its long-term confidence in the region’s growth potential.