Kakao Entertainment raised $966 million in financing from sovereign wealth funds

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Kakao Entertainment raised $966 million in financing from sovereign wealth funds, such as Saudi Arabia’s Public Investment Fund (PIF) and Singapore-based PWARP Investment.

The entertainment division of South Korean internet behemoth Kakao operates storytelling platforms (web novels and webtoons), music streaming, K-pop artist management, and other media (movies and TV series) businesses both domestically and internationally. According to the company, the latest funding will be used to accelerate its international expansion and make additional investments and acquisitions.

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Kakao Entertainment raised $966 million in financing from sovereign wealth funds

Kakao Entertainment raised $966 million in financing from sovereign wealth funds, such as Saudi Arabia’s Public Investment Fund (PIF) and Singapore-based PWARP Investment.

The entertainment division of South Korean internet behemoth Kakao operates storytelling platforms (web novels and webtoons), music streaming, K-pop artist management, and other media (movies and TV series) businesses both domestically and internationally. According to the company, the latest funding will be used to accelerate its international expansion and make additional investments and acquisitions.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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