- The $80 million investment will support HYBE IM’s publishing operations and development capabilities
- Leading the funding round is VC firm Makers Fund
Stay Updated
Receive the Latest Industry News in Your Inbox…
Sign Up Now
HYBE‘s gaming subsidiary, HYBE IM, has secured a $80 million investment led by Makers Fund to enhance its publishing operations and development capabilities.
Reported by Korea Joong Ang Daily, HYBE IM issued 76,924 new shares at 1.4 million won ($1,040) each, with HYBE receiving 12,228 shares, Makers Fund 57,692 shares, and IMM Investment 7,004 shares.
Subsequently, HYBE, as the majority shareholder, will increase its ownership to 71% in HYBE IM. The first payment of 61.8 billion won is scheduled by September 6, with the remaining 48 billion won to be paid by October 31, 2024.
An Exciting Milestone
HYBE IM’s President Wooyong Chung stated, “Through this investment, we aim to enhance our global gaming market competitiveness and evolve into a comprehensive games company by expanding our portfolio in both publishing and game development.
“With the backing of Makers Fund, IMM Investment, and HYBE, we are committed to sustainable growth and innovation, solidifying our position as a full-service game company.”
HYBE, known for managing the popular boyband BTS, is a leading South Korean entertainment company operating multiple music labels worldwide. In 2021, it launched its video game division, Hybe IM.
