South Korean gaming and technology firms Krafton, Naver and Mirae Asset announced the creation of a $666 million investment vehicle aimed chiefly at backing technology startups in India, according to multiple news reports released this week.
The fund, named the Unicorn Growth Fund, represents a coordinated effort by the three South Korean companies to expand their strategic footprint in India’s fast-growing tech ecosystem beyond gaming and into broader digital sectors including consumer technology, fintech and content platforms.
The investment vehicle is expected to begin operations in January 2026 under the management of Mirae Asset Venture India, with an initial deployment of over $333 million before scaling to its full $666 million target.
Krafton, best known for its global hit Battlegrounds Mobile India, has previously invested more than $200 million in Indian ventures across gaming and digital services, laying the groundwork for a larger, structured tech bet in the country.
The announcement underscores South Korea’s growing investment interest in India as companies diversify capital flows and seek opportunities in one of the world’s largest digital markets. Reuters notes that cumulative foreign direct investment from South Korea into India had reached roughly $6.8 billion by mid-2025.
Industry analysts say the fund could accelerate the growth of Indian tech startups by providing long-term capital and strategic support from established global players, potentially shaping a new phase of cross-border innovation and collaboration in Asia’s technology landscape.
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