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.