Nazara Technologies invests Rs 30 crore in Griffin

Nazara Technologies Limited, an India-based gaming and sports media company and its subsidiary Nazara Technologies (“Nazara Dubai'') announced investment in Griffin Gaming Partners (Griffin) as a limited partner in the Griffin Gaming Partners Fund II. Nazara will have a capital commitment not exceeding $4 million (Rs 30 crore), payable in cash, in one or more tranches, an official statement mentioned.

Nazara Dubai will invest up to $1.34 Million (Rs 10 crore) upfront while the rest of $ 2.66 Million (Rs 20 crore) will be deployed over a period of 3 years.

The gaming company backed by ace investor Rakesh Jhunjhunwala aims to become part of global network of Limited Partners of Griffin as well as its investee companies, Nazara mentioned in an official statement.

Nazara Technologies CEO Manish Agarwal, “Griffin Gaming Partners led by Peter, Phil and Nick has established itself the go to gaming fund for entrepreneurs across the world looking to raise smart money.”

Peter Levin, Managing Director, Griffin Gaming Partners said, Having key strategic partnerships such as Nazara in the rapidly scaling geography of the Indian subcontinent is a significant benefit for Griffin. What Manish and the team at Nazara have built is highly differentiated and their culture is a spot-on fit with our strategy."

Nazara has also acquired a majority stake in Nodwin Gaming Pvt. Ltd; Next Wave Multimedia Pvt. Ltd., which operates World Cricket Championship (WCC).

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