IPX Secures 120 Billion KRW Investment from Private Equity Fund BRV
IPX (formerly Line Friends) announced on the 25th that it has secured an investment of 120 billion KRW from BRV Capital Management (hereinafter BRV Capital), the Asia investment platform of global venture capital (VC) BlueRun Ventures.
BRV Capital is a growth capital investment-focused private equity fund with global investment achievements and networks. As the first lead investor of Line's Thailand super application 'LINE MAN,' BRV Capital has maintained a relationship with the Line Group. Based on its expertise in character IP business, BRV Capital highly evaluated IPX's IP business performance and potential, which have been recognized domestically and internationally, and decided to invest.
Through this investment, IPX plans to expand its IP portfolio targeting all age groups, strengthen its digital IP business, and advance its existing IP retail business. The goal is to complete a business success formula in the global market as an IP company equipped with IP business capabilities that cover both online and offline channels.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
Meanwhile, IPX has developed popular character IPs such as Line Friends, BT21, TRUZ, and WADE. Since changing its name to IPX in February last year, it has been expanding its IP business by launching new digital ventures such as the metaverse and NFTs.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
