With this investment, SBVK will hold 23 per cent stake in Ini3 and Daniel Kang, Chief Operating Officer of SBVK will join Ini3’s Board of Directors. Financial terms of the deal have not been disclosed.
Pattera Apithanakoon, CEO, Ini3, said in an official statement that the last 10 years of operating in Thailand has given the firm the experience it needs to drive into Southeast Asia. She added, “SoftBank is a well-recognised name in global technology business and SBVK has an extensive network of gaming companies in its portfolio, making it an ideal partner for Ini3.”
Kang shared, “SBVK is always looking to partner with technology companies that have solid market momentum, strong underlying financials and a proven management team. Ini3 fits this profile and is an ideal addition to our portfolio.” He added that the venture capital firm will provide growth capital and access to an existing network and portfolio companies in the gaming scene.
This investment marks SBVK’s first venture into Thailand, and its second into Southeast Asia with Indonesia’s Tokopedia.
Founded in 2003, Ini3 has 140 employees and operates 17 online game titles, including fantasy golf game Pangya. It is also the lead investor in Galaxy Ventures, an early stage investor in local mobile game developers and other technology startups.
Where do you think Ini3 will head to next? We’re guessing Indonesia and Vietnam — both markets beaming with potential when it comes to gaming.