New seed fund seeks to boost India’s mobile game developers

Indian mobile game developer and publisher Nazara wants to grow the gaming ecosystem in India – as well as take a slice of promising gaming startups in India. That’s why Nazara has launched a seed stake fund focused on gaming.

The new fund, TechCircle reports, will invest $40,000 to $80,000 each time in exchange for a negotiable stage in the gaming startup. The fund’s total size is Rs 5 crore, which is $800,000. Nazara’s fund looks to plough money into six to eight teams during the course of 2014.

Nitish Mittersain, founder and CEO of Nazara, says, “We are also tying up with other funds who want to co-invest with us, so the collective amount can end up being upwards of Rs 20 crore.” That’s $3.2 million.

Nazara aims it published titles at mobile gamers in India, the Middle East, and Africa. Its biggest deal allows it to distribute EA mobile games, such as Need for Speed: Shift, to its partners.

Other mobile-oriented seed funds in India include the One97 Mobility Fund and the $3.3 million Mobile2x (M2X) fund.

(Source: TechCircle; Photo: Flickr user Ben Dodson)

(Editing by Terence Lee)