(Bloomberg) – Center Court Capital, the venture capital firm backed by steel magnate Sajjan Jindal, has raised 3.5 billion rupees ($42 million) in its first fund to invest in Indian sports technology and video gaming startups. are procuring.
Most Read Articles on Bloomberg
The Mumbai-based fund is targeting 15 to 18 investments, primarily Series A rounds, over the next three years, founder Mustafa Gohaus said in a phone interview. He has an anchor investment of Rs 2,000 crore from backers including Jindal's family trust and aims to raise the rest by November.
Games and sports are growing in popularity in the world's most populous country, driven by a young demographic and increasing purchasing power. Although the sector is still in its infancy in India, evolving consumer preferences are opening up new opportunities.
“The way we think about fitness, sports and gaming has changed in this country,” Gohaus says. “We want to take advantage of that opportunity.”
Center Court will focus on consumer companies focused on technology for improving athletic performance, content creation and monetization, as well as sleep and overall fitness. The firm has already invested in two of his startups, a broadcast technology company and a sports analytics provider.
The fund, backed by PremjiInvest, USK Capital, Small and Medium Enterprises Development Bank of India, GMR Sports and SG Sports, is also in talks to support game studios.
Mr. Ghose, who previously represented India in international tennis tournaments, led investments in the Delhi Capitals cricket team and other franchises during his time as head of the sports division of Mr. Jindal's conglomerate JSW Group. Joining him as a partner is Alok Samtaney, a former principal at TVS Capital Funds.
Most Read Articles on Bloomberg Businessweek
©2024 Bloomberg LP
