Nazara Technologies raises Rs 100 Cr funding through Hornbill Capital
Mumbai, Feb 15 (UNI) Nazara Technologies, a leading diversified gaming and sports media platform, on Monday said that it has raised Rs 100 crore from Instant Growth Limited (IGL) which is advised by Hornbill Capital Advisers LLP. IGL is an investment vehicle of the North America based limited partners (LPs) of Hornbill Orchid India Fund.
Hornbill Capital Advisers LLP (Hornbill Capital) is an India based investment advisory firm founded by Manoj Thakur in 2014. Hornbill Capital acts as an advisor to Hornbill Orchid Investment Manager Private Limited which manages Hornbill Orchid India Fund, a Mauritius based hedge fund that invests in India as a Foreign Portfolio Investor.
Nazara Technologies is the first Indian gaming technology company to seek a market debut. Representational image
New Delhi: Gaming and sports media company Nazara Technologies has raised Rs 100 crore from a Mauritius-based hedge fund. Instant Growth Ltd (IGL), an investment vehicle of the North America-based limited partners (LPs) of Hornbill Orchid India Fund, has made this investment.
“We are glad that they (Hornbill) share our conviction and excitement on the future of the gaming sector in India and the value creation potential which gaming offers to the investors,” the
Economic Times quoted Manish Agarwal, CEO of Nazara as saying.
Ahead of IPO, Rakesh Jhunjhunwala-backed Nazara Tech raises Rs 100 crore in funding
The gaming platform has invested Rs 300 crore in the last five years in the Indian gaming ecosystem. February 11, 2021 / 07:45 AM IST
Gaming firm Nazara Technologies, which is backed by ace investor Rakesh Jhunjhunwala, has raised Rs 100 crore in funding from Instant Growth Ltd (IGL).
The fund was raised just weeks after it filed its preliminary papers with markets regulator Securities and Exchanges Commission of India (Sebi) to float an initial public offering (IPO).
The funds will be used towards forging alliances and acquisitions to further bolster its position in the gaming ecosystem as well as strengthening its gamified learning offerings, Nazara Chief Executive Officer (CEO) Manish Agarwal said.