Krafton, the Seoul-based gaming firm behind the popular battle royale game BGMI, has made a significant investment in IMM Investment's maiden India fund as an anchor limited partner. This move marks Krafton's third venture firm investment in India, following its previous backing of 3one4 Capital and Lumikai.

The investment will enable Krafton to tap into newer business categories and sectors in India, according to Nihansh Bhat, lead of corporate development for Krafton India. The company has already invested over $170 million in India and has earmarked an additional $150 million for future investments.

IMM Investment's India fund, which has made its first close, will focus on backing startups operating at a Series A-level or beyond in sectors such as consumer brands and tech, SaaS, fintech, gaming, media, and deeptech. The fund has already made its maiden investment in Sugar, a leading cosmetics brand. Prakhar Khanduja, former Legend Capital partner, will lead the local unit.

This investment is significant for the Indian startup ecosystem, as it brings together two major players in the gaming and venture capital spaces. The partnership is expected to drive growth and innovation in the region, with Krafton's investment providing a boost to IMM Investment's India fund.