The India unit of gaming firm Krafton partners with IMM Investment for India fund
The India unit of gaming firm Krafton has recently announced its backing of IMM Investment’s maiden India fund as an anchor limited partner. This move comes as Krafton, known for creating the battle royale game BGMI, continues to expand its investment presence in the South Asian market.
IMM Investment, based in Seoul, has a history of being an early supporter of Krafton and many of South Korea’s unicorn startups. The firm has successfully closed the first round of funding for its India fund and has appointed former Legend Capital partner Prakhar Khanduja to lead the local unit.
Nihansh Bhat, lead of corporate development for Krafton India, shared with JS that the investment in IMM Investment’s India fund will enable Krafton to explore new business opportunities and sectors within India.
This marks the third venture firm that Krafton has supported in India, following investments in 3one4 Capital and Lumikai. Bhat mentioned that Krafton remains open to similar investment opportunities in the future, with a total investment of over $170 million already made in India and an additional $150 million earmarked for the country.
Prakhar Khanduja, head of IMM Investment India, outlined the fund’s focus on backing startups at a Series A-level or beyond in various sectors such as consumer brands, tech, SaaS, fintech, gaming, media, and deeptech. The India unit has already made its inaugural investment in Sugar, a prominent cosmetics brand.
