SoftBank makes equity investment in Thai game operator Ini3
SoftBank Ventures Korea has invested an undisclosed amount for a 23% equity in Thai online game operator Ini3 Digital. This is the second time that the venture capital firm has backed a Southeast Asian firm, according to Tech In Asia.
Under the terms of the said deal, a partner from the SoftBank Group venture arm will sit as a member of Ini3's board, the report said.
Ini3 Chief Executive Officer (CEO) Pattera Apithanakoon explained: "Two years from now, we will focus on two sectors: one is what we are already good at - game operator. The other sector that we want to focus on is mobile gaming. We want to take this opportunity to tackle the mobile industry, using SoftBank support to grow regionally."
The 10-year-old game operator was planning to go public but backed out of the process to enter the SoftBank deal. At present, the company already has 17 million registered users across Thailand. Ini3 also runs 24 games in the country, Tech In Asia reported.