Nazara Pte. Ltd, a wholly-owned subsidiary of Nazara Technologies has invested $2.5 million in US-based Bitkraft Ventures, an investment platform for gaming and Web3.

With the investment, Nazara aims to build a network with limited partners (LP) or sponsors in funds, as well as the investee companies to gain access to the global gaming ecosystem.

Nazara says it wants to leverage Bitkraft's network for potential partnerships or investment into the company and its subsidiaries, securing deal flow for future M&A, among others.

Manish Agarwal, CEO, Nazara Technologies says, “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.”

Nazara has earlier acquired a majority stake in Nodwin Gaming and Next Wave Multimedia, which runs the World Cricket Championship (WCC). It also invested in OpenPlay and Absolute Sports, which runs Sportskeeda and Paper Boat Apps.

Nazara Technologies is a leading India based diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, eSports and gamified early learning ecosystems. The company owns some of the most recognisable IP, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, and Halaplay Technologies Private Limited and Qunami in skill-based, fantasy and trivia games. Nazara was among the first entrants in the Indian market in eSports and cricket simulation.

“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,” says Malte Barth, founding general partner, Bitkraft Ventures.