Kakao Games is the spun-out games business of Korea’s dominant messaging and internet company Kakao. The unit pulled in $130 million (140 billion KRW) from strategic investors as it positions for an IPO. Investors included Tencent (investing via two subsidiaries), Korea’s Netmarble Games (backed by Tencent), game studio Actozsoft, Bluehole Studio, and M&A fund Premier Growth. Kakao Games has primarily helped Korean developers take their titles overseas and is now focused on international growth and potential M&A, according to its Asia head. The games business was spun out last year and Kakao said it planned to list the unit this year; Kakao’s parent has also completed a $1 billion placement in Singapore for international expansion. Kakao operates a wide range of consumer services—including taxi-hailing, deliveries, comics and payments—and intends for the central Kakao business to act as a holding company over independent units.

Total raised

$130M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2018