Nazara Technologies to invest up to Rs 30cr in Griffin Gaming Partners

Nazara Technologies, an Indian gaming and sports media company, said that it will invest up to $4 million (INR 30 crores) in Griffin Gaming Partners’ Griffin Gaming Partners Fund II.

Griffin Gaming Partners is a global venture fund that focuses exclusively on gaming.

Nazara Technologies will make the investment through its fully-owned subsidiary — Nazara Technologies FZ LLC (Nazara Dubai). The investment is payable in cash in one or more tranches.

Nazara Dubai will make an upfront investment of up to $1.34 million (INR 10 crores) in the gaming fund, while the remaining $2.66 million (INR 20 crores) will be invested over a period of three years.

Peter Levin — Griffin Gaming Partners Managing Director said: “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.”

With the proposed investment, Nazara Technologies strives to become part of global network of limited partners of Griffin Gaming Partners Fund II apart from being its investee company.

Furthermore, the Indian gaming and sports media company said that access to the network will drive strategic partnership with its subsidiaries including but not confined to emerging market partnerships, investments etc.

Manish Agarwal — Nazara Technologies CEO said: “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 catalyst to accelerate growth of Nazara’s footprint in local Indian and global gaming ecosystem.”