Krafton, Naver, and Mirae Asset Group, the "Big 3" in Korea's IT and investment industries, have joined forces to form a massive alliance targeting the Asian technology ecosystem. The three companies announced the creation of the "Krafton-Naver-Mirae Asset Unicorn Growth Fund," valued at up to 1 trillion won, and will actively pursue the discovery of promising startups across Asia, focusing on Korea and India.
Beyond simple financial investment, this is a stepping stone to recreate the myth of a "second Battleground" and a "second Line" in the Asian market through strategic synergy that combines game, platform, and financial know-how.
The fund is scheduled to launch in January 2026, with an initial investment of 500 billion won, with the goal of expanding to up to 1 trillion won. Mirae Asset Venture India, a firm with a track record of unparalleled success in the Indian market, will be managing the fund.
In terms of the investment structure, Krafton and Naver will each contribute approximately KRW 123 billion, participating as key partners (LPs). Krafton, in particular, is the most proactive, including its initial investment of KRW 200 billion. This follows the successful formula of the "Asia Growth Fund," jointly established by Naver and Mirae Asset in 2018, which discovered major unicorn companies such as India's Zomato and Southeast Asia's Grab. This fund significantly expands its investment scope to become a "multi-sector growth fund" encompassing high-growth sectors such as AI, fintech, digital content, logistics, consumer goods, and healthcare.
The formation of this fund signals that India's position in the global venture investment market is evolving beyond a simple emerging market into a hub of technological innovation. Driven by the adoption of generative AI technologies and the explosive growth of digital payments (fintech), the Indian market has recently established itself as the world's third-largest startup ecosystem. Indeed, the Indian AI market is projected to grow at an average annual rate of over 20%, aligned with the government's "Digital India" initiative.
Krafton has already established a strong understanding of the local market and network through the national success of "Battleground Mobile India (BGMI)". Combining this with Naver's robust platform technology and AI capabilities, and Mirae Asset's proven global asset management capabilities, the company anticipates a value-enhancing effect that goes beyond simple capital investment. This is seen as a sophisticated strategy for Korean IT companies to expand their global tech leadership by leveraging the 1.4 billion-person Indian market as a bridgehead, moving beyond the saturated domestic market.
Regarding the creation of this fund, key executives from each company clearly expressed their intention to engage in strategic collaboration beyond simple investment.
Son Hyun-il, CEO of Krafton India, said, “Collaboration with leading companies in each field will bring about meaningful synergy,” and emphasized that this move is “to discover sustainable businesses in India that create social and economic value beyond games.”
Choi In-hyeok, CEO of Naver Tech Business, also expressed confidence in expanding its influence in the Indian market through collaboration with Krafton, saying, “Based on Naver’s platform, content, and AI capabilities, we will contribute to discovering innovative Indian companies and expanding the technology ecosystem.”
The launch of the "Asia Unicorn Growth Fund" is significant in that it marks a coalition of leading Korean strategic investors (SIs) to directly invest in promising overseas ecosystems. Particularly in the current global startup trend driven by AI and deep tech, this fund is expected to serve as a powerful bridge for Korean startups to expand into the Indian and Asian markets or establish joint ventures (JVs) with local companies. The companies claim that the portfolio companies discovered by this fund are highly likely to grow into new unicorns, bridging Korea's technological prowess with Asia's market potential. This, in turn, will inject new vitality into the stagnant domestic venture investment market.