LINE Games, a subsidiary of Tokyo-listed LINE Corporation, has raised KRW125 billion ($110 million) from Hong Kong-based investment firm Anchor Equity Partners’ Lungo Entertainment unit via a third-party allotment.
In an official statement, the company said the fresh capital infusion will be used to identify and invest in new global partnerships, pursue game businesses catering to the global market, and acquire new IP for games and titles.
Established in June 2017, LINE Games is primarily focused on Japan, Korea, Thailand and Taiwan. Last year, it acquired a controlling stake in Korean game development company NextFloor that is behind popular titles such as Dragon Flight and Destiny Child.
LINE went public in 2016 via a dual US-Japan listing, raising over $1 billion. It recently co-led a $13.4-million Series B round for Singapore-based technology solutions provider AnyMind Group.
On the other hand, Anchor Equity and Singapore’s sovereign wealth fund GIC jointly invested $184 million in Korean retail major E-Land Group this February. The Hong Kong-based firm had previously invested in Korean mobile commerce firm Ticket Monster.