Nazara invests $2.5 million in US-based game fund
Nazara aims to leverage the Bitkraft Ventures network
Nazara, a wholly-owned subsidiary of Nazara Technologies Limited, has announced their investment in US-based game fund BITKRAFT Ventures.
Nazara will invest $2.5 million in BITKRAFT Ventures out of which $0.875 million will be invested upfront, while the balance investment amount of $1.625 million will be deployed over a period of three years.
BITKRAFT Ventures is a leading investment platform for gaming and Web3 / blockchain projects globally. Nazara, with the above proposed investment, aims to build a network with Limited Partners as well as the investee companies to gain access in to the global gaming ecosystem.
Nazara aims to leverage the BITKRAFT Ventures network for the following strategic initiatives:
1. Potential partnerships and/ or potential investment into the company & its subsidiaries.
2. Securing deal flow for future M&A from the current portfolio of the funds as well as inflow of deals coming to funds.
3. Co-investment opportunities into highly sought-after founders/ companies.
Manish Agarwal, CEO, Nazara Technologies, said: “BITKRAFT Ventures have fast established themselves as one of the most promising investors in the global e-sports and gaming ecosystem. Our investment in BITKRAFT is in line with our long-term commitment to nurture and empower the gaming community across the world. Over the course of the next few years, this investment will enable us to work towards realizing our strategic vision of becoming the catalysts to empower the global gaming community and chart the next stage of growth in an increasingly connected and virtual world.”
"Given our long-term relationship with Nazara, we are very excited to get into this partnership for a win-win-win between Nazara, the BITKRAFT Venture Portfolio companies and BITKRAFT Ventures as a platform. The Partnership will help to increase the connectivity into the highly strategic Indian video games market. We have done multiple investments in the subcontinent and intend to do more in the future, in addition to supporting international Investment to drive growth in India," shared Malte Barth, Founding General Partner at BITKRAFT Ventures.
