Blue Ocean Games, an early-stage venture fund backed by South Korean gaming giant Krafton, has announced a $30 million fund to support indie game developers globally, with a special focus on nurturing talent in India. The fund plans to back over 100 indie developers in the next three years.
Founder and managing partner Damian Lee highlighted the widening gap between investor expectations, developer ambitions, and player demands, stating that Blue Ocean Games aims to create more accessible pathways for creators from diverse backgrounds. Lee expressed particular excitement about the creative potential emerging from India, combining local flavor with global appeal.
Lee, who formerly headed investments at Krafton, established Blue Ocean Games in Toronto with support from Toronto Global and the Embassy of Canada to South Korea.
The fund will operate using a SAIL model (Structured Agreement for Indie Launch), offering $100,000 for solo developers and up to $300,000 for teams over two years, linked to market-validation milestones rather than subjective benchmarks. Developers will retain full ownership of their intellectual property under a hybrid equity and revenue-share model that ensures creative control while offering returns to investors.
Beyond financing, Blue Ocean Games promises operational support like incorporation assistance, bookkeeping services, and mentorship from industry veterans. Developers will also collaborate in cohorts to foster a shared learning community.
Additionally, the fund has launched “Rising Tide,” a series of online challenges designed to help developers validate ideas and gain visibility. The first Rising Tide competition will kick off on May 1, in collaboration with Global Game Jam, with strong participation expected from India, possibly leading to a dedicated India track.
Sean Hyunil Sohn, CEO of Krafton India, emphasized that India’s creative and technical strength often struggles due to lack of early support, and Blue Ocean Games’ forward-looking investment model aims to address this gap.
Meanwhile, Krafton continues to deepen its India focus. The company operates the Krafton India Gaming Incubator, supports early-stage startups, and recently acquired a majority stake in Nautilus Mobile for INR 118 crore. Krafton has also pledged $150 million in investments over the next few years, bringing its total commitment to the Indian market to around $290 million. The company has introduced multiple games tailored for India, including BGMI, Bullet Echo India, and Road To Valor: Empires.
