Web3 Focussed Griffin Gaming Partner’s II Fund gets commitment of $4 Mn from Nazara Technologies

• ByStartupStory     |    March 11, 2022

Web3-focussed VC fund Griffin Gaming Partners Fund II gets commitment of $4 Mn from Nazara Technologies. The first tranche of $1.34 Mn will be invested by Nazara and over the next 3 years, the rest $2.66 Mn will be invested in Griffin’s second fund.

Nazara aims to become a part of a global network of LPs allowing it to foster partnerships across relevant industries with this investment.

In a statement,  Manish Agarwal, CEO of Nazara Technologies stated that the partnership with Griffin will act as a catalyst in order to accelerate the growth of Nazara’s footprint in the local Indian and global gaming ecosystem.

With LionTree as a strategic partner to the Fund, Griffin Gaming Partners Fund II was founded by Peter Levin, Phil Sanderson, and Nick Tuosto. From platforms to infrastructure to content and studios have been looked at by the company to invest in all things of gaming.

Shortly after the latter became one of the largest gaming-focused VC companies in the world, with over $1 Bn in AUM, Nazara’s investment in Griffin’s second fund came in.

Nazara was founded by Vikash Mittersain and Nitish Mittersain in the year 2000. With a presence in India and global markets such as Africa and North America, it is a diversified gaming and sports media platform.

Interactive gaming, e-sports and gamified early-learning ecosystem are the areas that the company specialised in. World Cricket Championship (WCC) and mobile games- CarromClash , gamified early learning- Kiddopia, Nodwin and Sportskeeda (e-sports and esports media, respectively) and skill-based fantasy and trivia games- Halaplay and Qunami are included as the variety of products it is well-known for.

In March 2021, Nazara became the first Indian company to go public, and as of March 11, 2022, the current market capitalisation of the company stands at INR 5,920 Cr. In the third quarter ended December 2021, Nazara Technologies has clocked revenue of INR 185.8 Cr, chalking up a 42% YoY increase compared to the same quarter last year.

Follow Startup Story