MUMBAI: Nazara, a wholly-owned subsidiary of Nazara Technologies Limited, has announced a $2.5 million investment in US-based game fund BITKRAFT Ventures.
Of the $2.5 million, $875,000 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.
