Chinese online developer Shanda Games has invested $9.42 million in South Korean publisher Kakao Games.

Shanda made the investment through its South Korea-based subsidiary Actoz Soft. It was joined by affiliate company Diandian Interactive Holding which invested the same amount.

Growth

The Investor previously revealed that Kakao Games had received 140 billion won ($131.6 million) in funding from multiple investors ahead of a planned IPO.

Netmarble and two subsidiaries of Tencent led the round with a contribution of 50 billion won ($46.9 million) each while the rest was provided by Actoz Soft and developer Bluepoint, along with Premier Growth-M&A PEF.

Kakao Games is currently working with Actoz Soft to launch free-to-play MMORPG title Dragon Nest in Q1 2018.