Krafton hikes India bet with new $670M fund [Yahoo! Finance]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
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Source: Yahoo! Finance
focused on India, stepping up its push into the world's largest internet user base. Called the Unicorn Growth Fund, the investment vehicle is a collaboration between Krafton and South Korean internet conglomerate Naver, and investor Mirae Asset. It aims to deploy up to ?60 billion (around $669.3 million) over four years, Krafton confirmed to TechCrunch. The fund, which will be managed by Mirae Asset Venture India, is expected to be established in January and begin operations with an initial size of more than ?30 billion (about $334.6 million). Krafton will contribute ?12.3 billion (approximately $137.2 million) at the first close, the company said. Naver's capital commitment is expected to be “broadly comparable” to Krafton's $137 million investment, a Krafton spokesperson told TechCrunch. The fund will not operate with rigid country-allocation thresholds, and typical investment sizes are expected to range between $10 million and $30 million, the spokesperson said. Krafton sai
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