With this investment, Nazara aims to leverage Bitkraft Ventures’ network for potential partnerships or potential investments in the company and its subsidiaries
With this investment, Nazara aims to leverage Bitkraft Ventures’ network for potential partnerships or potential investments in the company and its subsidiaries
Nazara Pte. Ltd., a wholly owned subsidiary of Indian gaming company Nazara Technologies, on Tuesday announced a $2.5 million investment in US gaming fund Bitkraft Ventures.
With this investment, Nazara aims to leverage Bitkraft Ventures’ network for potential partnerships or potential investments in the company and its subsidiaries in order to secure deal flow for future M&As from the funds’ current portfolio as well as the inflow of deals coming to Funds come and co-investment opportunities in sought-after founders/companies.
“Nazara will invest $2.5 million in Bitkraft Ventures, of which $0.875 million will be invested upfront, while the remaining investment amount of $1.625 million will be provided over a three-year period,” the company said in a statement.
“Bitkraft Ventures has quickly established itself as one of the most promising investors in the global esports and gaming ecosystem. Over the next few years, this investment will position us to work toward realizing our strategic vision of becoming the catalysts to empower the global gaming community and ushering in the next phase of growth in an increasingly connected and virtual world,” says Manish Agarwal, CEO, Nazara Technologies.
Malte Barth, Founding General Partner at Bitkraft Ventures, said the partnership will help increase connectivity into the highly strategic Indian video game market. “We have made several investments in the subcontinent and intend to do more in the future, in addition to supporting international investments, to spur growth in India,” said Mr. Barth.
