• Sat. Apr 20th, 2024

News Eyeo

All Important News

Venture Capital Fund Supported by Jindal Launches First Fund for Investments in Indian Sports and Gaming

Byeditor

Apr 4, 2024

Centre Court Capital, a venture capital firm supported by steel magnate Sajjan Jindal, is in the process of raising up to 3.5 billion rupees ($42 million) for its inaugural fund that will focus on investing in Indian sports technology and video game startups. The Mumbai-based fund, founded by Mustafa Ghouse, is aiming to make 15 to 18 investments, primarily in Series A rounds, within the next three years. They have already secured 2 billion rupees from investors including Jindal’s family trust and plan to secure the remaining amount by November.

The rise of gaming and sports in India, driven by a young population with increasing disposable income, presents a promising opportunity for investment. Although the sector is still developing in the country, changing consumer preferences are creating new avenues for growth. Ghouse noted that there has been a significant shift in how fitness, sports, and gaming are viewed in India, and Centre Court Capital wants to capitalize on this changing landscape.

Centre Court’s investment focus will be on technologies that enhance athletic performance, content creation and monetization, as well as consumer-facing companies in the sleep and general fitness sectors. The firm has already made investments in two startups, a broadcast technology company, and a sports analytics provider. In addition to Jindal’s family trust, other investors in the fund include PremjiInvest, USK Capital, Small Industries Development Bank of India, GMR Sports, and SG Sports. The firm is also in discussions to support gaming studios as part of its portfolio.

Ghouse, a former international tennis player representing India, previously oversaw investments in cricket team Delhi Capitals and other sports franchises while heading the sports division of Jindal’s JSW Group. He is joined by Alok Samtaney, a former principal at TVS Capital Funds, as a partner at Centre Court Capital. This collaboration aims to leverage their expertise and experience in sports and investment to drive success for the fund and its portfolio companies.

By editor

Leave a Reply