Naver said Tuesday it has created a 700 billion-won ($476.4 million) investment fund with Krafton and Mirae Asset Group to foster companies in the artificial intelligence (AI), fintech and content sectors in India. The companies co-hosted an event in New Delhi to introduce the Unicorn Growth Fund (UGF) to Indian companies and venture capital firms, attended by Industry Minister Kim Jung-kwan, Naver Chief Executive Officer (CEO) Choi Soo-yeon, Krafton CEO Kim Chang-han and Swarup Mohanty, vice chairman of Mirae Asset Investment Managers India, according to Naver. The UGF was initially set up by Krafton with a 200 billion-won investment earlier this year, followed by Naver and Mirae Asset, which contributed a combined 500 billion won. The partners have agreed to expand the fund to 1 trillion won. Naver said the fund aims to invest in high-potential technology companies in India across AI, fintech and content sectors. “Building on its abundant IT talent and dynamic startup ecosystem, India is rapidly emerging as a hub of global digital innovation by expanding its AI industry ecosystem,” Cho
Naver, Krafton, Mirae Asset launch $476.4 mil. AI fund in India
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