Wednesday , October 5 2022

Nazara Commits Investment Of Rs 30 Cr To Griffin Gaming Partners Fund II Over Next 3 Years

Nazara Technologies, a gaming and sports media company and its wholly owned subsidiary Nazara Technologies FZ LLC (“Nazara Dubai”) announced investment in Griffin Gaming Partners (Griffin) Fund II, L.P as a limited partner in the fund.

Nazara Dubai is a Limited partner in Griffin Gaming Partners Fund II, L.P for a capital commitment not exceeding USD 4 million (Rs 30 crore), payable in cash, in one or more tranches. Nazara Dubai will invest up to USD 1.34 million (Rs10 crore) upfront while the rest of USD 2.66 million (Rs 20 crore) will be deployed over a period of 3 years.

‘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 the growth of Nazara’s footprint in the local Indian and global gaming ecosystem,” Manish Agarwal, CEO, Nazara Technologies.

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”.

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