Kakao Entertainment secures $966M from sovereign wealth funds

  • Kakao Entertainment has raised $966 million (1.2 trillion won) in financing from sovereign wealth funds.
  • Investors include Saudi Arabia‚Äôs Public Investment Fund (PIF) and Singapore-based PWARP Investment.
  • Kakao Entertainment is the entertainment subsidiary of South Korean internet giant Kakao.
  • The company operates storytelling platforms (web novels and webtoons), music, K-pop artists management, and other media (movies and more).

[Via]

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