Home Web 3.0 nazara investments: Nazara invests $2.5 million in US-based gaming, web3 fund Bitkraft Ventures

nazara investments: Nazara invests $2.5 million in US-based gaming, web3 fund Bitkraft Ventures

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New Delhi: Nazara Pte. Ltd, a wholly-owned subsidiary of Nazara Technologies on Tuesday said that it has invested in US-based Bitkraft Ventures, an investment platform for gaming and Web3.

Mumbai-based Nazara will invest $2.5 million in Bitkraft Ventures spread out over three years.

Bitkraft Ventures typically backs gaming, Web 3, blockchain projects globally.

With the investment, Nazara aims to build a network with limited partners (LP) or sponsors in funds, as well as the investee companies to gain access to the global gaming ecosystem.

Nazara said it wants to leverage Bitkraft’s network for potential partnerships or investment into the company and its subsidiaries, securing deal flow for future M&A, among others.

“Bitkraft Ventures has fast established themselves as one of the most promising investors in the global e-sports and gaming ecosystem. Our investment in Bitkraft is in line with our long-term commitment to nurture and empower the gaming community across the world,” Manish Agarwal, CEO, Nazara Technologies said.

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Nazara has earlier acquired a majority stake in Nodwin Gaming and Next Wave Multimedia, which runs the World Cricket Championship (WCC). It also invested in OpenPlay and Absolute Sports, which runs Sportskeeda and Paper Boat Apps.

“The partnership will help to increase the connectivity into the highly strategic Indian video games market. We have done multiple investments in the subcontinent and intend to do more in the future, in addition to supporting international Investment to drive growth in India,” Malte Barth, founding general partner at Bitkraft Ventures said.

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