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Krafton, Naver and Mirae Asset plan Rs 6,000 Cr India focused fund

EntrackrEntrackr · 2d ago
Krafton, Naver and Mirae Asset plan Rs 6,000 Cr India focused fund
Medial

Krafton, Naver and Mirae Asset plan Rs 6,000 Cr India focused fund South Korean gaming company Krafton, known for Battlegrounds Mobile India (BGMI), has announced a new India focused technology investment fund in partnership with Naver and Mirae Asset, with a target corpus of up to Rs 6,000 crore. The vehicle, named the Unicorn Growth Fund, will place India at the core of its Asia investment strategy and signals Krafton’s intent to deepen its presence beyond gaming into wider technology and innovation sectors. The fund is expected to begin operations in January 2026. The announcement builds on Krafton’s established footprint in India, where it has invested over $200 million across gaming and digital startups since 2021. Its portfolio in the country spans companies such as hyperlocal community platform Shuru, fintech firm Cashfree Payments and game studio Nautilus Mobile, where Krafton acquired a controlling stake. Battlegrounds Mobile India has further strengthened the company’s position in the market, recording hundreds of millions of downloads and playing a central role in the growth of India’s mobile gaming ecosystem. Krafton’s broader investment narrative in India dates back to August 2023, when it committed to deploy $150 million into Indian gaming and entertainment startups over a two to three year period. The focus at the time was on early stage studios, esports platforms, multimedia content ventures and allied segments. Prior to that, between March 2021 and mid 2023, Krafton had invested around $140 million across 11 Indian startups such as Nodwin Gaming, Loco, Kuku FM and Pratilipi. With the new fund, Krafton is widening its investment lens to technology companies with scalable innovation potential. The partnership brings together NAVER’s platform and content expertise and Mirae Asset’s capital management capabilities to form a structured investment platform aimed at backing India’s tech ecosystem and supporting Krafton’s long term objectives in the market.

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Neo Asset Management announces fund II at Rs 2,000 Cr

EntrackrEntrackr · 8m ago
Neo Asset Management announces fund II at Rs 2,000 Cr
Medial

Neo Asset Management, a seasoned Alternative Asset Management firm in India, has announced the first close of its second flagship private credit fund - the Neo Special Credit Opportunities Fund-II (NSCOF II), at Rs 2,000 crore as on date including the first closing as filed with SEBI. Launched 3 months ago, the fund is targeting a total corpus of Rs 5,000 crore. The fund witnessed interest from Family Offices, Ultra High Net Worth Individuals (UHNIs) and Institutional Investors alike to make Neo’s journey an alternative investment platform focused on Private Credit and Real Assets. NSCOF-II is a SEBI-registered Category II AIF designed to provide bespoke credit solutions to EBITDA positive companies. As a strategy, all investments are fully covered with at least 2-3 times hard asset collateral and bear regular coupons. Neo Asset Management aims to adhere to its fund strategy and deliver returns. It looks forward to deploying capital efficiently in Fund-II. Its objective is to create a well-diversified portfolio with 25-30 investments, each ranging between Rs 150-300 crore. Neo’s first private credit, Neo Special Credit Opportunities Fund-I, closed in June 2024, raising Rs 2,575 crore. This fund has gross deployed 100% of its capital across 23 carefully curated diversified investments and have exited from 7 of these investments, over the past 18 months. The team has evaluated more than 450 investments in the last two years. Neo Group is a new-age wealth and asset management company, backed by Peak XV Partners, MUFG Bank, and Euclidean Capital and committed to building India’s leading Alternatives Asset Management platform. Neo Asset Management, the India-focused Alternative Asset Management arm of the Neo Group, manages more than Rs 10,000 crore of AUM, investing across various asset classes and delivering returns with stable cashflows.

Jai Kisan raises fresh funds in extended Series B

EntrackrEntrackr · 8m ago
Jai Kisan raises fresh funds in extended Series B
Medial

Rural fintech startup Jai Kisan has raised Rs 26.5 crore (approximately $3 million) in its extended Series B round from existing investors: Unitary Fund, Mirae Asset, and Blume Ventures. The board at Jai Kisan has passed a special resolution to allot 980 compulsory cumulative preference shares (CCPS) at an issue price of Rs 2,70,133 per share to raise Rs 26.5 crore or $3 million, its regulatory filings sourced from the Registrar of Companies (RoC) show. Mirae Asset Venture invested Rs 12.5 crore, whereas Unitary Fund and Blume Ventures participated with Rs 12 crore and Rs 2 crore, respectively. According to Entrackr’s estimates, the company is valued at around $180 million post-allotment. Founded in 2017 by Arjun Ahluwalia and Adriel Maniego, Jai Kisan is a rural-focused neo bank that offers credit for transactions in online and offline rural commerce environments to individuals and rural businesses. Jai Kisan has recorded an operating revenue of Rs 39 crore in the fiscal year ended March FY24 with a loss of Rs 51 crore in the same period. Last year, the company received an NBFC license through its majority strategic acquisition of Kushal Finnovation Capital Private Limited.

KRAFTON acquires majority stake in Nautilus Mobile for Rs 118 Cr

EntrackrEntrackr · 8m ago
KRAFTON acquires majority stake in Nautilus Mobile for Rs 118 Cr
Medial

KRAFTON, the company behind BATTLEGROUNDS MOBILE INDIA (BGMI), has acquired a controlling stake in Pune-based game studio Nautilus Mobile for Rs 118 crore ($13.7 million). This is KRAFTON’s first full-control deal in India. Nautilus Mobile is best known for its popular mobile cricket game, Real Cricket. JetSynthesys fully acquired the studio in 2020, and KRAFTON later invested Rs 40.5 crore in 2022. With this acquisition, KRAFTON aims to boost Indian game development and expand its presence in sports gaming. JetSynthesys will remain a minority investor and continue working with Nautilus, especially in Esports. KRAFTON India CEO Sean Hyunil Sohn said this deal will help India become a global gaming hub. Nautilus Mobile CEO Anuj Mankar said the partnership will help Real Cricket grow internationally. KRAFTON has invested over $200 million in Indian startups since 2021 and continues to support local game developers. With India’s growing love for cricket and gaming, this move strengthens KRAFTON’s position in the country’s gaming ecosystem.

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