Multi gaming platformstarted on Tuesday Games24x7 Ventures– the company’s corporate investment arm – to support early stage startups at the intersection of technology and interactive entertainment space in India.
The company has set aside a corpus of Rs 400 crore for the next five years and will focus on working with entrepreneurs building disruptive ventures in categories including online games, digital marketing, digital content, sports technology, eSports, blockchain Technology and analytics more.
Investments are focused on partnerships with startups that have synergies with Games24x7’s core business areas.
In conversation with Your storyRahul Tewari, CFO, Games24x7 said: “The idea of the fund is to build an ecosystem for gaming startups where they have access to the right patient capital. While there are other funds out there, we know what it takes to build a gaming startup, especially in the early days, and wanted to extend support to gaming startups as well.”
He added, “As a highly strategic venture capital partner, we bring a unique blend of access to patient capital and strategic value in areas such as product development, data science, marketing automation, user growth and monetization to help the next generation of young, ambitious founders scale their ventures with confidence. ”
Trivikraman Thampy, Co-Founder and Co-CEO of Games24x7, said of the development: “We believe we are very well positioned to support early-stage companies beyond just capital. Our ROI-driven mindset, intense client focus, and scientific operational methodology for scaling the topline while maintaining a solid unitary economics would be highly beneficial in working with founders to build high-growth businesses that will endure.”
In 2021, Games24x7 financially supported CricHeroes, a digital gamer-focused platform targeting grassroots cricket in areas such as digital marketing, data science, data infrastructure and security, and product development. The company has seen significant revenue growth and an increase in its paying user base since the investment.
Bhavin Pandya, Co-Founder and Co-CEO of Games24x7 said: “We launched this fund to boost India’s entrepreneurial and deep tech ecosystem. We believe that a strong vision supported by the right environment can accelerate the growth trajectory for any startup, and our own progress is a testament to that. With the Games24x7 Innovation Fund, we strive to be a catalyst in the growing startup community, offering a perfect fusion of unique ideas, disruptive business models and new innovative technologies.”
(This story has been updated to correct a typo.)