True, Line Games form tech investment fund - Mobile World Live

True, Line Games form tech investment fund

19 MAR 2019

Thai operator True joined forces with Line Games and Korea Venture Investment to create a finance fund targeting opportunities in the gaming and technology sectors.

True Incube, a subsidiary of True, invested about $5.9 million in the fund, representing a 26 per cent equity stake, while Korea Venture Investment has a 40 per cent share and Line Games a 32 per cent interest.

The remaining 2 per cent is held by a joint venture between True and Kona Venture Partners, True Kona, which will manage the Cayman Island-based private equity fund.

True Incube will have the right to publish games in Southeast Asia on its parent company’s digital platforms, True said in a filing with the Stock Exchange of Thailand.

Line Games is a unit of Line Corp, a Tokyo-based subsidiary of South Korean internet search giant Naver.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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