South Korea-based private equity fund ATU Partners has launched with $17m from backers including Kakao Games and E&M, digital entertainment offshoots of internet company Kakao and conglomerate CJ Group.
The Growth Fund’s other limited partners include venture capital firm Woori Technology Investment and investment firm SB Partners.
ATU Partners is concentrating on esports investments and acquired League of Legends esports team Kingzone Dragon X in October this year, rebranding it to DRX. CEO Jamie Park used to be head of esports broadcasting channel OGN’s global business division.
Park said: “The esports industry has been growing rapidly at 30% year on year over the last couple of years. Followed by the investment boom in K-Pop and K-Beauty, we forecast that esports will become the next big investment trend capturing Korea’s strength in the industry.”
