Nazara Invests $2.5 Mn In US Based Game Fund Bitkraft Ventures
Nazara Pte, a wholly-owned subsidiary of Nazara Technologies has invested will invest USD 2.5 million in the United States (US) based game fund Bitkraft, out of which USD 0.875 million will be invested upfront, while the balance investment amount of USD 1.625 million will be deployed over a period of three years.
Bitkraft Ventures is an investment platform for gaming and Web3 and 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 to the global gaming ecosystem.
The company said that it is aiming to leverage the Bitkraft Ventures network for strategic initiatives like potential partnerships or potential investments into the company and its subsidiaries, securing deal flow for future M&A 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 and companies.
Manish Agarwal, CEO, Nazara Technologies, “Bitkraft Ventures have 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 nurturing and empowering the gaming community across the world. Over the course of the next few years, this investment will enable us to work towards realizing our strategic vision of becoming the catalysts to empower the global gaming community and chart the next stage of growth in an increasingly connected and virtual world.”
"Given our long-term relationship with Nazara, we are very excited to get into this partnership for a win-win-win between Nazara, the Bitkraft Venture Portfolio companies and Bitkraft Ventures as a platform. 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," shared Malte Barth, Founding General Partner at Bitkraft Ventures.
