Pixel P&L: Krafton Launches ₹6,000 Crore Unicorn Growth Fund for Indian Startups

Welcome to another Pixel P&L edition. This issue takes 5 minutes to read. If you only have one, here are the 5 most important things:

• Krafton launches ₹6,000 crore India-focused tech fund, expanding beyond gaming into AI, fintech, and healthcare .

• Dream11 offices raided by ED in ₹2,434 crore real-estate fund probe involving co-founders.

• Sony Honda's Afeela 1 will support PlayStation Remote Play in-car when California deliveries begin in 2026.

• Riot Games confirms major League of Legends overhaul for 2027 with new client and updated visuals.

• Blizzard president signals focus on existing franchises over new IP, targeting 1-2 major releases annually.

Let's get into it.

Krafton Launches ₹6,000 Crore India-Focused Tech Fund

South Korean gaming giant Krafton announced a partnership with Naver and Mirae Asset to launch the Unicorn Growth Fund, targeting up to ₹6,000 crore in investments across India's technology and startup ecosystem.

The fund, scheduled to begin operations in January 2026, will initially deploy over ₹3,000 crore with Krafton contributing ₹1,230 crore. The initiative marks an expansion of Krafton's India strategy beyond its existing $200 million cumulative investment in the country's digital entertainment sector.

Investment targets extend beyond gaming to include artificial intelligence, fintech, content, logistics, and other innovation-driven sectors. The fund will focus on leading technology companies across Asia, with India as its primary market.

"Our participation aims to discover sustainable businesses in India that create social and economic value in addition to gaming," said Krafton India CEO Sean Hyunil Sohn, citing plans to explore consumer goods, sports, media, and healthcare opportunities.

The move positions Krafton as a long-term institutional investor in India's growing tech landscape.

ED Raids Dream11 Offices in ₹2,434 Crore Real-Estate Fund Probe

India's Enforcement Directorate conducted searches across 27 locations nationwide on Friday, including offices of Dream11 and premises linked to co-founders Harsh Jain and Bhavit Sheth, as part of a money laundering investigation.

The probe centers on alleged fraudulent diversion of funds from a ₹2,434 crore private real-estate fund involving Jai Corp Limited, its former promoter Anand Jain (Harsh Jain's father) and other directors. The investigation stems from a CBI case registered in February following Bombay High Court orders, examining irregularities that allegedly occurred between 2004 and 2017.

Authorities suspect funds were diverted through investments and unsecured loans to sister concerns, with losses justified using fabricated documents. The scheme, called Urban Infrastructure Opportunities Fund, reportedly mobilized public funds for Mumbai real-estate projects.

The raids come as Dream11's parent company Dream Sports recently restructured into eight independent business units, including a gaming division, following regulatory changes that eliminated 95% of its revenue.

⚡️Quick Bytes

Sony Honda's Afeela 1 Car to Feature PlayStation Remote Play

Sony Honda Mobility announced that its upcoming Afeela 1 electric vehicle will support PlayStation Remote Play, allowing passengers to stream PS4 and PS5 games through the car's infotainment system. The feature requires a console running at home and will be available when California deliveries begin in 2026. The move follows similar gaming integrations by Tesla and Microsoft's Xbox Cloud Gaming partnership with LG's automotive platform.

Riot Games Plans Major League of Legends Overhaul for 2027

Riot Games announced plans to substantially redesign League of Legends following the 2026 season, introducing a new client, updated visuals, and additional game modes. Executive producer Paul Bellezza emphasized the changes will "reshape parts of League in meaningful ways" but stopped short of calling it a sequel. Bloomberg reports the project, internally dubbed League Next, targets a 2027 launch alongside employee reorganization, following layoffs of 530 staff in 2024.

Blizzard President Signals Focus on Existing Franchises Over New IP

Blizzard president Johanna Faries told Bloomberg the company will prioritize expanding existing franchises rather than developing new intellectual property, aiming for one to two major releases annually. "We have iconic IP and in many ways it still has a lot of room to scale," Faries said. Under her leadership since 2024, Blizzard restored its partnership with NetEase, reopening the Chinese market. Upcoming releases include World of Warcraft: Midnight and Diablo 4's Lord of Hatred expansion.

⚔️Side Quest

🤣Laugh:

📺 Watch: Gaming visionary Hideo Kojima answers fan questions in this WIRED Tech Support episode, revealing his definition of great game design, hands-on development process, and creative philosophy. He discusses Death Stranding's delivery mechanics, Metal Gear Solid's themes, the future of VR storytelling, and his methods for staying inspired, offering rare insight into how he transforms daily creative energy into groundbreaking interactive experiences.

🎮 Play: Furi delivers an electrifying boss rush experience at 80% off during Steam's Winter Sale. This stylish action game pairs punishing-but-rewarding combat with a phenomenal electronic soundtrack, testing your reflexes across intense one-on-one battles. Short but endlessly replayable with brutal difficulty modes..

📚 Read: Christopher Dring chronicles Nex Playground's surprise breakthrough, selling 600,000 units and outselling Xbox in November's US hardware rankings. CEO David Lee explains how the $250 family console evolved from a basketball app, learned from Wii's mistakes through subscription models, and attracted major IPs like Bluey while keeping sustainable economics that prevent creative compromises around monetization.

💡Did You Know

Before District 9 became a sci-fi masterpiece, filmmaker Peter Jackson was set to produce a Halo film adaptation in the 2000s. However, the project collapsed due to financing issues, leaving behind elaborate sets and props. Rather than let them go to waste, Jackson partnered with first-time director Neill Blomkamp to repurpose the Halo materials for an original story. The result was District 9 (2009), a critically acclaimed alien invasion thriller that earned four Academy Award nominations, including Best Picture. The film's gritty documentary style and innovative creature effects showcased what might have been, a silver lining from Halo's unfortunate demise.

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