TRUE Found True-Kona to Form a Private Equity Fund, Investing in Game and Tech Companies
TRUE has entered into a joint venture to establish True-Kona to form a private equity fund that invests in companies with gaming business and technology.
True Corporation Public Company Limited (TRUE) has announced that True Incube Company Limited (True Incube), a wholly owned subsidiary of TRUE, has jointly invested with Kona Venture Partners (KONA), to set up True-Kona Cayman GP (True-Kona) which was incorporated in Cayman Island with the contribution of US$ 45,480 or approximately THB 1.43 million for shareholding proportion of 50% of total issued shares. The objective of True-Kona is to be a fund manager of the fund that will be established in Cayman Island.
Furthermore, True Incube has also jointly invested with Korea Venture Investment Corporation, LINE Games Corporation and True-Kona to form a private equity fund in Cayman Island, namely LINE GAMES-TRUE-KONA GLOBAL LIMITED PARTNERSHIP (Fund), of which True Incube has made an investment of approximately US$ 5,907,200 or approximately THB 187.02 million, representing 26% equity stake in this Fund.
The Fund has a list of investors as follows;
1) Korea Venture Investment Corporation invested in the proportion of 40%
2) LINE Games Corporation invested in the proportion of 32%
3) True Incube invested in the proportion of 26%
4) True-Kona invested in the proportion of 2%
The objective of the Fund is to seek opportunities by investing in companies that has target business in game and technology. True Incube would be entitled to the right to publish games in South East Asia which would be leveraged among True Group’s multiple platforms, increase revenue growth potential and generate future capital gain.
