Mumbai-based gaming and media company Nazara Technologies has invested ₹4.74 crore across two international venture capital funds focused on the gaming sector, according to a recent stock exchange filing.
The company has committed $300,000 (approx. ₹2.6 crore) to Play Ventures Fund III and $250,000 (approx. ₹2.14 crore) to F4 Venture Fund I, acting as a limited partner in both.
This investment follows the approval granted by Nazara’s board in May 2024, which had authorized an investment of up to $2 million in Play Ventures Fund III and $250,000 in F4 Fund I. Nazara had earlier stated that the deployment of funds would take place over a three to four-year period.
Play Ventures, based in Singapore, is a well-known early-stage gaming VC with a focus on mobile games, AI tools, and gaming infrastructure. Its $140 million Fund III backs startups from pre-seed to Series A, with portfolio companies including Defi Alliance, Cypher, and M League.
F4 Venture Fund I, launched in 2023 by gaming veterans David Kaye and Joakim Achren, supports gaming entrepreneurs working in adjacent sectors like AI, SaaS, consumer tech, and social platforms. The US-based firm invests globally from seed to Series B, with portfolio startups such as Noice, Baby.ai, and After Hour.
The announcement comes amid other key corporate developments at Nazara. Its subsidiary Nodwin Gaming has extended the timeline to complete its ₹7.58 crore acquisition of 92.3% stake in AFK Gaming, now expected to close by July 30, 2025. Meanwhile, Nazara also confirmed it will not exercise a call option to acquire an additional 1% stake in Moonshine Technology (MTPL), citing its current 46.07% equity holding and 4.87 lakh CCPS.
Nazara recently completed the acquisition of the debt-hit Smaaash Entertainment, reinforcing its aggressive M&A strategy in the gaming and sports entertainment sector.
On the financial front, Nazara reported a 53% QoQ decline in consolidated profit to ₹4.1 crore in Q4 FY25, while full-year FY25 profit fell 32% YoY to ₹51 crore. However, operating revenue rose 43% YoY to ₹1,623.9 crore, driven by growth across verticals, despite profitability pressures stemming from heavy marketing spends by PokerBaazi, operated by associate Moonshine Technologies.
Nazara’s stock closed 0.34% higher at ₹1,320 on the BSE in yesterday’s trading session.
