Thailand Game Operator Receives Venture Funding
Ini3, a Thailand based company with a hand in the game development market, has closed a round of funding with SoftBank Ventures Korea Corp.
Ini3 owns some leading game development companies with a number of titles, both online and mobile. Founded in 2004, Ini3 has 140 employees and is the lead investor in Galaxy Ventures, an early stage investor in local mobile game developers and other technology startups.
For the past few years, Ini3 was planning to file for an Initial Public Offering. While they were re-organizing the company to go public the company found other opportunities. “While preparing to be listed, we’ve met with other investors,” said Pattera Apithanakoon, CEO of Ini3. “With SoftBank it’s not about the money, it’s about the connection and opportunities we’d get.”
SoftBank Ventures Korea has taken a 23 percent stake in Ini3 with the goal of expanding in Southeast Asia. This marks the second investment in Southeast Asia by SoftBank Ventures, the first being the Indonesian e-commerce site Tokopedia last year. “Ini3 has a long history in the game industry,” says Daniel Kang, COO and partner of SoftBank. “Their philosophy focuses on customer satisfaction. They also have great vision. With these three combined with what SoftBank has, we can do so much more for the gaming industry.”
Apithanakoon said Ini3 aims to become a regional player by expanding into other Southeast Asia markets. “SBVK’s strong portfolio will help us access potential game content,” says the CEO. “Together with our 20 years’ experience in providing online-game services, we will go regional together. This year we aim to increase our profit by 20 percent from last year.”