KRAFTON India has announced its partnership with IMM Investment, becoming the anchor investor in IMM’s Maiden India fund. IMM India Fund is an extension of IMM Investment, a leading multi-asset investment firm headquartered in South Korea with nearly $7 billion in assets under management (AUM).
IMM India Fund will focus on fostering innovation in India by investing in sectors such as Consumer Brands, Consumer Tech, SaaS, Fintech, Gaming and Media and DeepTech. The fund will primarily target growth-stage companies that demonstrate a clear path to an IPO, supporting their growth and expansion.
Through this partnership, KRAFTON India will channel South Korean capital into India, strengthening its commitment to drive long-term growth in gaming and complementary startup sectors.
In the past decade, India has built not only a great physical infrastructure but also a world-class digital infrastructure, including UPI, India Stack, and ONDC, which have created a fertile environment for founders and businesses to thrive. IMM India Fund seeks to leverage this ecosystem to create significant growth opportunities for Indian startups, particularly those poised to benefit from linkages with South Korean expertise and capital.
Sean Hyunil Sohn, CEO of KRAFTON India said, “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. This collaboration aligns with the government’s Invest India initiative and strengthens the investor relations between India and South Korea while accelerating growth for Indian startups.”
Il Bu Joung, President of IMM Investment said, “We are thrilled to be in the fast-growing Indian startup market. For 25 years, IMM investment has invested in some remarkable startups in South Korea and supported them throughout different stages of growth. KRAFTON-IMM partnership in India will bring together deep expertise in creation of a system to help support Indian startups.”
Prakhar Khanduja, Managing Director, IMM Investment Corp. said, “India has witnessed remarkable hypergrowth across its economy, infrastructure, and startup ecosystem over the past decade. In the last 3-4 years, we have witnessed a shift in the mindset of Indian startups, and they are now focused on profitability, making them candidates for public market exits while maintaining growth. This makes them very attractive to global investors. The Indian market is also unique due to its large and diverse population, and founders are innovating to suit the Indian consumer base. We are particularly impressed by Sugar’s growth trajectory with high gross margins driven by its high-quality, unique product offerings and affordable pricing, which serve the large Gen Z population. With successful results, it became one of the leading cosmetics brands in the country.”
IMM India Fund has successfully closed its first investment with Vellvette Lifestyle (Sugar Cosmetics), reinforcing its commitment to backing dynamic Indian brands with strong growth potential to be a leader in its category.
Beyond direct investments, KRAFTON India’s investment strategy includes a fund-of-funds (FOF) approach, enabling it to tap into high-potential sectors outside its core focus. KRAFTON India has also invested in VC funds such as 3one4 Capital and Lumikai. KRAFTON India is in active discussions with other leading South Korean investors to bring additional funds into India, further expanding its footprint in the country’s vibrant startup ecosystem.
