Lokesh Choudhary · · 2 min readIndian VC firm bets on sports tech, gaming with $42m fund
Photo Credit: Centre Court Capital
According to a report by PricewaterhouseCoopers, the global gaming industry could be worth US$321 billion by 2026, and India plays a key role. The country’s gaming industry is the largest in the world, with 568 million gamers and over 9.5 billion gaming app downloads in 2023.
Recently, Indian gaming giant Nazara Technologies earmarked US$100 million for global expansion, and VC firm Centre Court Capital is following suit. The company, which invests in sports tech and gaming projects, is launching a US$42 million fund aimed at those two industries in India.
The fund, which is looking to to back tech-driven startups redefining how sports are played and consumed in India, was founded by former pro tennis player Mustafa Ghouse and Alok Samtaney, who has had years of experience in private equity investing.
Centre Court Capital’s anchor investor is the Sajjan Jindal Family Trust, a major investor in the sports arm of Indian conglomerate JSW. Other backers include the Small Industries Development Bank of India, PremjiInvest, USK Capital, and major corporate sports investors.
Between August 2020 and 2022, the Indian gaming sector landed US$1.5 billion in funding, propelling several startups such as Dream Sports and MPL to attain unicorn status. VCs have also made moves: Gaming-focused investment firm Lumikai, for instance, launched its second fund worth US$50 million in 2023.
See Also: One Singapore VC firm’s unique approach to finding next gaming goldmine
Editing by Putra Muskita and Jaclyn Tiu
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