Comments
Nazara Technologies Ltd, a gaming and sports media company, and its wholly-owned subsidiary Nazara Technologies FZ LLC (Nazara Dubai), has committed $4-million investment in Griffin Gaming Partners (Griffin) Fund II.
Nazara Dubai is a limited partner in Griffin Gaming Partners Fund II, L.P for a capital commitment not exceeding $4 million (₹30 crore), payable in cash, in one or more tranches. Nazara Dubai will invest up to $1.34 million (₹10 crore) upfront, while the rest will be deployed over three years.
Griffin Gaming Partners Fund II was founded by Peter Levin, Phil Sanderson and Nick Tuosto, with LionTree as a strategic partner. The firm prefers to invest in gaming platforms and infrastructure, gaming content and game studios. With this proposed investment, Nazara, aims to become a part of the global network of Limited Partners (“LP”) of Griffin as well as its investee companies. Access to this network is expected to foster strategic partnership with Nazara’s subsidiaries including but not limited to emerging market partnerships, investments etc.
The company aims to leverage the Griffin network for various strategic initiatives including potential partnerships and/or potential investment into Nazara and its subsidiaries, securing deal flow for future mergers and acquisitions from the current portfolio of the funds as well as inflow of deals coming to funds, and co-investment opportunities into highly sought-after founders/companies.
Nazara Technologies CEO Manish Agarwal said, “Thepartnership with Griffin will act as catalyst to accelerate growth of Nazara’s footprint in Indian and global gaming ecosystem.”
“Gaming is projected to reach a staggering $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,” said Peter Levin, Managing Director, Griffin Gaming Partners.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.