Nazara Technologies announced an investment in Griffin Gaming for a capital commitment not exceeding INR 30 Crores – Nazara Technologies Limited an India based, diversified gaming and sports media company, and its wholly-owned subsidiary Nazara Technologies FZ LLC (“Nazara Dubai”) announced investment in Griffin Gaming Partners (Griffin) Fund II, L.P as a Limited Partner in the Fund. Here is all information on recent investment. For Gaming and Esports Latest updates follow InsideSport.IN
Nazara Dubai is a Limited partner in Griffin Gaming Partners Fund II, L.P for a capital commitment not exceeding USD 4 Million (INR 30 Crores), payable in cash, in one or more tranches. Nazara Dubai will invest up to USD 1.34 Million (INR 10 Crores) upfront while the rest of USD 2.66 Million (INR 20 Crores) will be deployed over a period of 3 years.
Also Read: Sports Gaming Business: Nazara Gaming raises 100 Cr from Hornbill Capital
Nazara Technologies announced an investment in Griffin Gaming for a capital commitment not exceeding INR 30 Crores
Nazara, with this proposed investment, aims to become part of global network of Limited Partners (“LP”) of Griffin as well as its investee companies. Access to this network should foster strategic partnerships with Nazara’s subsidiaries including but not limited to emerging market partnerships, investments, etc. Management believes that the company aims to leverage the Griffin network for the following strategic initiatives:
- Potential partnerships and/ or potential investment into Nazara and its subsidiaries.
- Securing deal flow for future M&A from the current portfolio of the funds as well as inflow of deals coming to funds.
- Co-investment opportunities into highly sought-after founders/ companies.
Nazara Technologies CEO Manish Agarwal, “Griffin Gaming Partners led by Peter, Phil, and Nick has established itself the go-to gaming fund for entrepreneurs across the world looking to raise smart money. The value addition which the Griffin team brings to the founding team is priceless and hence this partnership with Griffin will act as a catalyst to accelerate the growth of Nazara’s footprint in local Indian and global gaming ecosystem.”
“Gaming is truly global and is projected to reach a staggering $256 billion of annual consumer spend in 2025. Having key strategic partnerships such as Nazara in the rapidly scaling geography of the Indian subcontinent is a significant benefit for Griffin. What Manish and the team at Nazara have built is highly differentiated and their culture is a spot-on fit with our strategy,” said Peter Levin, Managing Director, Griffin Gaming Partners.
In addition to the investment in Griffin Gaming Partners Fund II Nazara has acquired multiple companies over the past few years. Nazara has placed itself in a leading position in esports, interactive gaming, and gamified early learning space with the ‘Friends of Nazara’ network. For Gaming and Esports Latest updates follow InsideSport.IN
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