Kakao Games sinks $16.8M into esports studio Neptune

Kakao Games, the game-facing business belonging to Korean chat app maker Kakao, has invested $16.8 million into esports developer Neptune.

As reported by Korean website Pulse, the deal marks the third time Kakao has sunk cash into the studio, and will see Kakao Games' stake in Neptune rise to 11 percent. 

It's only been a few months since netted $130 million expand its games division, and following the Neptune deal the company has been busy talking up the growth potential of the esports market. 

The pair will now work together to release two games featuring the Kakao Friends cast of characters, while Kakao also has high-hopes for Neptune's continued expansion into esports and multi-channel networks. 

For Neptune, the move will facilitate the company's own investment plans, and the esports outfit hopes to form new strategic partnerships off the back of the deal.