By Sagar V. Mankar Krafton, known for blockbuster titles like BATTLEGROUNDS MOBILE INDIA (BGMI) and PUBG, is expanding its influence in India’s growing startup market.
The company recently announced a strategic partnership with IMM Investment, a prominent South Korean multi-asset investment firm and one of Krafton’s earliest supporters, to establish a dedicated fund targeting Indian startups.
This dedicated fund, named the IMM India Fund, aims to back startups across a range of promising sectors including consumer brands, consumer technology, Software-as-a-Service (SaaS), fintech, gaming, media, and deep tech. Primarily targeting growth-stage companies, the fund will focus on businesses with strong potential for public listings (IPO) and those that can benefit from the support and expertise of South Korean investment.
The IMM India Fund’s first investment in the country has already been directed toward Sugar Cosmetics, a fast-growing beauty brand.
To lead this venture in India, IMM Investment has appointed Prakhar Khanduja, a seasoned professional who previously served as a partner at Legend Capital. Additionally, the IMM Fund has plans to establish a physical office in India and expand its team by the coming year.
Sean Hyunil Sohn, CEO of Krafton India, expressed excitement about the collaboration, emphasizing its potential to bring South Korean capital, expertise, and a global outlook to the Indian market. He highlighted that this partnership supports India’s “Invest India” initiative and strengthens financial ties between India and South Korea.
“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.”
IMM Investment’s President, Il Bu Joung, echoed this sentiment, adding that their experience with South Korean startups will help support and guide Indian companies through different stages of growth.
“For 25 years, IMM investment has invested in some remarkable startups in South Korea and supported them throughout different stages of growth.”
Krafton’s collaboration with IMM Investment is part of its broader investment strategy in India. Previously, Krafton has backed Indian venture firms like 3one4 Capital and Lumikai, and to date, it has invested over $170 million in India, with an additional $150 million allocated for further growth. Notable investments include Nodwin Gaming, Pratilipi, and Kuku FM, highlighting Krafton’s firm commitment to supporting India’s tech-driven ecosystem.