Nazara Pte. Ltd, a wholly-owned subsidiary of Nazara Technologies, announced on Tuesday that it has invested in Bitkraft Ventures, a gaming and Web3 investment platform based in the United States.
Nazara, a company based in Mumbai, will invest $2.5 million in Bitkraft Ventures over three years.
Bitkraft Ventures usually invests in gaming, Web 3, and blockchain ventures all over the world.
Nazara hopes to get access to the global gaming ecosystem by establishing a network with limited partners (LPs) or sponsors in funds, as well as investee firms, through this transaction.
Nazara said it hopes to use Bitkraft’s network to find possible partners or investors for the company and its subsidiaries, as well as to secure deal flow for future M&A.
“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.
Nazara previously bought a majority stake in Nodwin Gaming and Next Wave Multimedia, the companies that run the World Cricket Championship (WCC). It also backed OpenPlay and Absolute Sports, the companies behind 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.