Games24x7, an online gaming platform, launched Games24x7 Ventures on Tuesday to invest in early-stage startups in India operating at the intersection of technology and interactive entertainment.
Trivikraman Thampy, Co-founder, and Co-chief executive officer, Games24x7 sated, “We believe that we are very well positioned to support early-stage companies beyond just capital. Our return on investment-focused mindset, intense customer focus, and scientific operating methodology of scaling topline while preserving sound unit economics would be very beneficial in partnering with founders in building hyper growth companies which will endure.”
Games24x7 Ventures will invest and support startups in categories such as online gaming, digital marketing, digital content, sports tech, eSports, blockchain technology, and analytics, among others, with a corpus of over Rs 400 crore ($48.37 million) to be allocated over the next five years, according to a statement from the company.
The fund will focus on partnering with start-ups that have synergies with Games24x7’s core business areas, according to the startup, which became a unicorn earlier this year.
My11Circle, one of the country’s largest fantasy platforms, and RummyCircle, one of India’s largest online rummy platforms, are both owned by Games24x7. Thampy, an IIT Bombay engineering alumnus, and Bhavin Pandya, a Purdue University engineering alumnus, founded it in 2006.
Tiger Global Management and Raine Group are among the investors in the company. Games24X7 was valued at $2.5 billion in March after raising $75 million in funding led by Malabar Investment.
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