Kakao Games attracts W100b funding from Tencent, Netmarble
[THE INVESTOR] Kakao Games, Kakao’s game developing unit, said on Feb. 14 it has attracted a fresh 140 billion won funding from five multiple investors, including China’s Tencent and Netmarble Games ahead of its planned stock debut later this year.
Netmarble, the nation’s largest mobile game maker, and two Tencent subsidiaries will invest 50 billion won each, while smaller game developer Actozsoft will inject 20 billion won. The other two -- Bluehole Studio, producer of the mega-hit shooting game PlayerUnknown’s “Battlegrounds,” and Premier Growth-M&A PEF -- will invest 10 billion won each.
Kakao Games CEO Namkoong Hoon
Kakao said all the five investors are its strategic partners. The firm has been working with Tencent and Bluehole to launch “Battleground” in China, while it plans to launch the action playing game Actozsoft’s “Dragon Nest” in the first quarter this year.
The firm added it is seeking to acquire game firms with the new funding as part of its global expansion.
“The latest investment proves our partners appreciate our growth potential,” Kakao Games CEO Namkoong Hoon said in a statement.
By Park Ga-young (email@example.com)