Games2win launches REPLAY Fund for gaming startups and entrepreneurs
With this fund, mobile video games publisher Games2win wants to encourage gaming startups and entrepreneurs in India.
Mumbai-based Games2win, a publisher of casual mobile games with more than 230 million downloads, has announced the launch of its REPLAY Gaming Fund that is targeted at gaming startups and entrepreneurs.
In a statement, Alok Kejriwal, CEO and Co-founder, said that the company will invite gaming startups seeking funding, mentor them through the development process and market their products using its network.
He added,
“Instead of taking equity in a startup, we will share the revenue agreement with the developer. After that, the startup can carry on with its next title without our intervention. We want to help gaming startups and entrepreneurs hit ‘Replay’ without delay.”
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Founded in 2006, Games2win has over 1 million daily active users. Some of its best-known global games are “Parking Frenzy”, “Driving Academy”, “International Stylist”, among others.
The company said that it has no capital restriction for this fund. But, it has kept an initial figure of Rs 10 crore. It has also started accepting registrations for the REPLAY Gaming Fund.
Recently, New York-headquartered Rockstar Games Inc. acquired Indian art production studio Dhruva from Starbreeze for an undisclosed fee.
This month, gaming platform Nazara Technologies invested an undisclosed amount in Mumbai-based startup Bakbuck, a vernacular social contesting platform. In March, Nazara infused Rs 40 crore in the Series A funding round of online daily fantasy startup HalaPlay.
Mumbai-based fantasy gaming platform Dream11 also announced the completion of a secondary investment by Steadview Capital in March and marked its entry into the coveted ‘unicorn’ club.
As per a IFSG-KPMG 2019 report, the user base for Dream11's platform has been growing at a CAGR of around 230 percent over the period of three years, and it claims to have 50 million registered users.
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