Centre Court Capital (CCC), backed by Sajjan Jindal Family Trust, launches Rs 350-cr fund

Centre Court Capital has launched a Rs 350 crore fund that aims to revolutionise the sports and gaming sector in India. The fund will back founders bringing innovative tech and pushing the boundaries of the sports and gaming ecosystem - a segment that is fast becoming a significant asset class. 

The fund has been founded by Mustafa Ghouse, former CEO of JSW Sports, and Alok Samtaney, former investment director of TVS Capital. The Sajjan Jindal Family Trust is the anchor investor, while Parth Jindal is the CEO.

Other limited partners for the fund are the Small Industries Development Bank of India (Sidbi), PremjiInvest, USK Capital, GMR Sports, and SG Sports.

JSW Sports owns properties like the cricket team Delhi Capitals and the football team Bengaluru FC.

Centre Court Capital is a SEBI-registered Category II AIF, and will be launching an offshore feeder fund in GIFT City, to raise capital from international investors. The fund has already completed its first two investments in the sports tech space. It will look to focus on early stage opportunities, earmarking Rs 8 to 24 crores, while reserving 40-50% of the fund for follow-on investments. 

“With 396 million gamers, India is the second largest population of gamers in the world and the gaming sector is poised to grow at a five-year CAGR of 21%. We firmly believe in the potential of the space, and are focussed on backing exceptional founders who believe they are now ready to compete with the best in class, globally. At CCC, we possess the experience and know-how to fuel the charge of sport and gaming. We are keen to write the India chapter of a trend that’s growing globally,” said Mustafa Ghouse, Founder and General Partner of Centre Court Capital.

“Over the last decade, we have backed, invested and developed sport in India in a big way, and our commitment stems from our belief in the potential of sports in India. We’ve also been tracking the growth of the eSports and gaming sectors and we’re excited to see the champions from India emerge. We are proud to be early backers of Centre Court Capital's pioneering fund, which will further drive growth and innovation in what is an ever-evolving sector,” said Parth Jindal, Founder of JSW Sports.

The fund plans to invest in pre-series A and series A firms in ticket sizes of between $1-3 million, making a total of 15 to 18 investments. Half of the funds will be reserved for follow-on investments.

Ghouse said they would look for investment opportunities in sports technology, sports fitness, gaming and eSports. In a broader prospect, this will include sports analytics, content, broadcast, fan engagement, gaming studios and publishers and ancillary businesses that feed into this ecosystem.

Centre Court Capital plans to make about 15-18 investments from this fund with average investments ranging from Rs 8 crore to Rs 20 crore. About 50 percent of the fund will be reserved for follow-on investments, Ghouse said.

The fund has a 10-year maturity period and will invest in gaming and sports-adjacent firms, looking to take up shareholding in the mid-teens alongside other rights and board seats. Centre Court Capital is aiming to raise the entire fund by the end of 2024, he added.