Mumbai-based Nazara will invest $2.5 million in Bitkraft Ventures spread over three years.
Bitkraft Ventures typically backs gaming, Web3, and blockchain projects globally.
With this investment, Nazara aims to create a network with limited partners (LP) or sponsors in funds, as well as the beneficiary companies to access the global gaming ecosystem.
Nazara said it wants to leverage Bitkraft’s network for potential partnerships or investments in the company and its subsidiaries, securing deal flow for future mergers and acquisitions, among other things. “Bitkraft Ventures has quickly established itself as one of the most promising investors in the world of esports and the gaming ecosystem. Our investment in Bitkraft is in line with our long-term commitment to nurturing and empowering the community. gamers around the world,” said Manish Agarwal, CEO of Nazara Technologies.
Nazara previously acquired a majority stake in Nodwin Gaming and Next Wave Multimedia, which operates the World Championship Cricket (WCC). He has also invested in OpenPlay and Absolute Sports, which runs Sportskeeda and Paper Boat Apps.
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“The partnership will help increase connectivity in the highly strategic Indian video game market. We have made multiple investments in the subcontinent and intend to do more in the future, in addition to supporting investments to drive growth in India,” said Malte Barth. , said the founding general partner of Bitkraft Ventures.