Nazara Technologies, the digital gaming and sports company, through its wholly-owned subsidiary, Nazara Technologies FC LLC has invested INR 30 crore in Griffin Gaming Partners Fund II.
Nazara Technologies FZ LCC, which is also known as Nazara Dubai, unveiled in a statement that it will invest INR 10 crore upfront and the rest INR 20 crore will be invested over three years.
Nazara Technologies CEO, Manish Agarwal, said, “Griffin Gaming Partners has established itself as 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 growth of Nazara’s footprint in the local Indian and global gaming ecosystem.”
Through this investment, Nazara plans to become a part of the global network of Limited Partners of Griffin.
“Access to this network should foster strategic partnership with Nazara’s subsidiaries including but not limited to emerging market partnerships, investments etc.” the statement said.
Griffin Gaming Partners, Managing Director, Peter Levin, said, “Gaming is truly global and is projected to reach a staggering USD 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”.