Nazara invests $2.5 mn in US-based gaming investment firm BITKRAFT Ventures

Nazara Pte. Ltd., a diversified gaming and sports media company, on Tuesday announced that it is investing $2.5 million in the US-based gaming investment fund BITKRAFT Ventures.

Out of the total amount, $0.875 million will be invested upfront, while the balance investment amount of $1.625 million will be deployed over a period of three years, the company said in a press statement.

BITKRAFT Ventures is an investment platform for gaming and Web3 / blockchain projects that functions globally. The company aims to build a network with Limited Partners (“LP”) as well as the investee companies to gain access into the global gaming ecosystem.

"BITKRAFT Ventures has established itself 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," said Manish Agarwal, CEO, Nazara Technologies.

Nazara aims to leverage the BITKRAFT Ventures network for potential partnerships into the company and its subsidiaries, said the company. It also want to "secure deal flow for future M&A from the current portfolio of the funds as well as inflow of deals coming to funds".

"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," said Malte Barth, Founding General Partner at BITKRAFT Ventures.