In BriefPosted:9:30 PM PDT · October 28, 2024Image Credits:KraftonManish SinghKrafton backs IMM Investment’s first India fundThe Indian arm of gaming firm Krafton has unequivocally backed IMM Investment’s inaugural India fund as an anchor limited partner. This move underscores Krafton India’s strategic expansion into the Indian startup ecosystem, positioning it as a key player in the nation’s venture capital landscape. Seized upon the opportunity to invest alongside high-profile firms like 3one4 Capital and Lumikai, Krafton India has now cemented its commitment to the Indian market with this latest venture.
Seized at an early stage by Krafton, IMM Investment has demonstrated exceptional foresight in its first close of the India fund. The completion of this significant milestone reflects the firm’s robust due diligence process and strategic vision for growth within the region. Immersed in the Indian startup ecosystem since its inception, IMM Investment possesses a wealth of experience navigating the unique challenges and opportunities inherent to operating in one of the world’s most dynamic markets.
To ensure the success of its India fund, IMM Investment has appointed Prakhar Khanduja as its chief investment officer. A seasoned professional with a track record of leading high-performing teams across various industries, Prakhar brings a wealth of expertise that aligns perfectly with the goals and mission of Krafton India. His leadership will be instrumental in guiding the fund’s investments toward their full potential.
Nihansh Bhat, lead of corporate development for Krafton India, has been instrumental in articulating the vision for this new venture. “IMM Investment’s investment will significantly enhance our ability to tap into newer business categories and sectors,” he stated during a recent interview with TechCrunch. This assertion underscores the company’s commitment to diversifying its portfolio and expanding its influence beyond its current focus areas.
The Indian arm of Krafton has a history of substantial investments in the country, having previously backed 3one4 Capital and Lumikai. Cumulatively, these investments have exceeded $170 million, a testament to the company’s dedication to nurturing talent and fostering innovation within the Indian startup ecosystem. In keeping with this tradition, Krafton India has once again demonstrated its belief in the potential of the country by committing another $150 million to new ventures.
The first investment under IMM Investment’s India fund was placed in Sugar, a leading cosmetics brand. This early success highlights the firm’s ability to identify and capitalize on promising opportunities within the consumer goods sector. However, the fund is poised for even greater impact as it explores investments across a broader range of industries, including technology, SaaS, fintech, gaming, media, and deep tech.
With Prakhar Khanduja at the helm, IMM Investment India will focus on identifying high-potential startups at the Series A stage or later. This strategic approach aligns with the company’s long-term vision of becoming a formidable force in the Indian startup ecosystem. By prioritizing quality over quantity, IMM Investment aims to build a portfolio that reflects both diversity and excellence.
The firm’s initial investment in Sugar exemplifies its commitment to supporting established players while also exploring innovative opportunities within emerging sectors. This balanced approach ensures that Krafton India remains a catalyst for growth and development across various industries.
In addition to its focus on high-growth areas, IMM Investment India will work closely with local partners and stakeholders to ensure the success of its investments. By leveraging its extensive network and deep understanding of the Indian market, the firm aims to create a platform that fosters collaboration and innovation on a national scale.
As the company continues to expand its footprint in the Indian startup ecosystem, it remains committed to building a legacy of success through strategic partnerships and innovative investment strategies. With a clear vision for the future, Krafton India is poised to solidify its position as a leader in the region’s venture capital industry.
In conclusion, Krafton India’s backing of IMM Investment’s first India fund represents a significant milestone in the company’s journey to become a global player in the startup ecosystem. Through strategic investments, experienced leadership, and a focus on innovation, Krafton India is well-positioned to achieve its goals and realize its vision for growth within the Indian market.