Nexon announced on the 23rd that it plans to create a public-private joint fund worth KRW 250 billion over the next five years to foster domestic start-up game developers. Recently, investment sentiment in the market has weakened, and even promising early-stage startups are facing difficulties in raising capital. Nexon’s plan is to provide “priming water” to nurture the seeds of next-generation K-games in this environment.
To this end, Nexon has established a new corporation named Nexon Partners and, together with specialized venture capital (VC) firm Kona Venture Partners, created a strategic fund worth KRW 120 billion, which includes KRW 60 billion from a government-matched parent fund. After making initial investments through this fund, Nexon will inject an additional KRW 130 billion to support subsequent growth. Lee Jung-heon, CEO of Nexon Partners, said, “Through public-private cooperation, we will fill the early-stage funding gap and discover next-generation global intellectual properties (IP) that will emerge in the wake of the AI transition.”
Kim Jae-hyung
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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