Nazara Technologies plans to invest $20 million in e-gaming startups
Nazara Technologies, a leading interactive gaming and sports media company, has announced that it would invest up to $20 million in 2020 in startups associated with this segment across India, Africa, and the Middle East.
Nazara, which has invested $50 million in 13 startups in the last two years, is looking to act as a catalyst to expedite the growth of gaming, esports, and sports content across emerging markets, stated a press release from the company.
Nazara plans to infuse risk and growth capital in the selected startups besides offering mentorship via the founders of the companies in its current portfolio of investments and its leadership team.
Manish Agarwal, CEO, Nazara Technologies, said,
“Looking at the explosive growth in the interactive entertainment and sports ecosystem, Nazara has decided to up its aggression on investing in the emerging market ecosystem and support early-stage startups, accelerating the growth of these companies and of the industry at large.”
Besides fund infusion and mentorship, the startups can tap into the network of Nazara’s business operations spanning Africa, the Middle East, Southeast Asia, and the Indian sub-continent.
The startups will also have access to local payment options with readymade legal infrastructure to expand into the above geographies, apart from access to Nazara’s network of 100 million-plus monthly active users in India.
In the past, Nazara has looked at speed-scaling 13 startups and provided them with growth capital. The company plans to apply a similar model for the next set of startups, while aiming at targeted mentorship for business model refinement and go-to-market strategies.
Founded by Nitish Mittersain in 2000, Nazara is backed by marquee investors including West Bridge Capital, IIFL Special Opportunities Fund, Rakesh Jhunjhunwala and Turtle Entertainment GmbH, the IP owner of the world’s largest esports franchise, ESL.
(Edited by Athirupa Geetha Manichandar)