Nazara to invest Rs 30 cr to Griffin Gaming Partners Fund II over 3 years

Digital gaming and sports company Nazara Technologies through its wholly-owned subsidiary Nazara Technologies FZ LLC has committed an investment of Rs 30 crore in Griffin Gaming Partners Fund II.

Nazara Technologies FZ LLC, known as Nazara Dubai, will invest up to Rs 10 crore upfront, while the rest Rs 20 crore will be deployed over a period of 3 years, the company said in a statement.

"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," Nazara Technologies CEO Manish Agarwal said.

With this proposed investment, Nazara aims to become part of the global network of Limited Partners of Griffin as well as its investee companies.

"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".