Krafton anchors IMM's India fund; Sugar Cosmetics gets first cheque via secondary deal

South Korean PE-VC platform IMM Investment, backed by BGMI-maker Krafton, has launched its maiden India fund and picked Mumbai-based Sugar Cosmetics for its debut bet — a secondary transaction signaling fresh foreign capital flowing into India's IPO-ready D2C beauty pack.

— Filed Mon, 22 Jun, 2026, 19:13 IST · Source Moneycontrol · Updated

Krafton anchors IMM Investment's maiden India fund targeting growth-stage IPO-ready companies. The fund's first investment is a secondary transaction in Mumbai-based beauty and personal care brand Sugar Cosmetics, signaling fresh South Korean capital into Indian D2C beauty.

Why this matters

Secondary cheque from IMM lands as Sugar Cosmetics hunts a ₹100-150 cr rescue round at half its 2022 peak valuation, with offline expansion souring its growth math.

Retail-brand signals steady at 1,805 over the last 90 days.

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