https://techcrunch.com/2023/01/11/kakao-entertainment-lands-966m-from-sovereign-wealth-funds-including-saudi-arabias-pif/ > Kakao Entertainment announced today it has raised $966 million (1.2 trillion won) in financing from sovereign wealth funds, such as Saudi Arabia’s Public Investment Fund (PIF) and Singapore-based PWARP Investment. The entertainment subsidiary of South Korean internet giant Kakao operates storytelling platforms (web novels and webtoons), music, K-pop artists management, and other media (movie and TV series) businesses at home and abroad.  > With the latest funding, the company will further push ahead with its international expansion and make more investments and acquisitions.