India’s startup ecosystem is set to receive a major infusion of Korean capital. South Korean gaming major Krafton, internet company Naver, and financial services firm Mirae Asset are teaming up to launch a large India-focused investment fund that could deploy up to ₹6,000 crore (~ $670 million) into the country’s startup ecosystem. The fund will target growth-stage technology companies and is expected to begin operations in early 2026.
The new fund, named the Krafton Naver Mirae Asset Unicorn Growth Investment Fund, is being positioned as a late-growth and pre-unicorn focused platform, reflecting the increasing maturity of India’s startup landscape. It is expected to launch with an initial corpus of a little over ₹3,000 crore, with the remaining capital to be raised in subsequent phases as additional investors join. Mirae Asset’s India arm will manage the fund, while Krafton and Naver will serve as anchor investors, contributing a significant share of the initial capital.
Krafton and Naver are each expected to commit around ₹1,230 crore in the first phase, which highlights their long-term strategic interest in the country. At the same time, Mirae Asset, which has extensive experience in managing large cross-border funds, will also invest its own capital along with its role as fund manager. The structure allows the fund to combine strategic investors with institutional fund management, a model that has previously worked well in Asia-focused growth funds.
The investment strategy will focus on Indian startups that have moved beyond the early venture stage and are demonstrating strong revenue growth, scalable business models, and a clear path to profitability. Rather than concentrating on a single sector, the fund will pursue opportunities across artificial intelligence, fintech, digital content, gaming and esports, consumer internet, healthcare, logistics, media, and other emerging technology segments.
For Krafton, the fund represents a significant expansion of its India strategy. Best known in the country for Battlegrounds Mobile India, Krafton has already invested more than $200 million in Indian startups since 2021. Its portfolio spans gaming, esports, fintech, content, and audio platforms, including companies like Nodwin Gaming, Loco, Kuku FM, Pratilipi, and Cashfree Payments. Krafton has also been promoting early-stage innovation through its India Gaming Incubator, which supports local game developers.
Meanwhile, Naver’s participation reflects its growing focus on global expansion beyond South Korea. As one of the country’s largest internet companies, Naver operates businesses across search, e-commerce, fintech, cloud services, and artificial intelligence. And now, India’s large and digitally connected population offers Naver both investment opportunities and potential strategic partnerships, particularly in AI-driven services, content platforms, and enterprise technology solutions. In parallel, Mirae Asset brings to the partnership a strong track record in India and across Asia. The firm has previously co-sponsored growth funds with Naver and has backed several prominent Indian startups in sectors like food delivery, logistics, social media, and financial services.
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