Centre Court Capital introduces Rs 350 Crore fund for investment in Indian E-Sports, tech and gaming sectors
- Apr 04, 2024 12:40 pm
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Centre Court Capital launches its first fund of Rs 350 crore for Indian e-sports, aiming for strategic investments in sports tech and gaming. Supported by the JSW Group, it plans to expand its investor base with an offshore feeder in GIFT City.
Introduction of Centre Court Capital's First Fund:
Centre Court Capital (CCC) has started its first fund of Rs 350 crore to invest in the Indian e-sports platform over the next three years, a senior official of the venture capital firm said on Thursday.
Mustafa Ghouse, the Centre Court Capital Founder and General Partner, said the fund got approval from SEBI (capital market regulator) a year ago.
The company has raised Rs 200 crore for the fund and anticipates closing the entire fundraise by the end of this year.
Investment strategy and goals:
"Our primary objective is to close the Rs 350 crore fund by the end of this year. Our goal is to make 15-18 investments in Indian businesses over the next three years, with a focus on sports tech and gaming sectors. We have already raised Rs 200 crore for this fund and have the option to raise another Rs 350 crore," Ghouse mentioned.
Centre Court Capital (CCC) plans to invest Rs 8-24 crore in early-stage startups and has allocated 50 percent of the fund for follow-up investments. CCC has already made a few investments from the fund and plans to announce more shortly.
Investor details:
Ghouse, the founding CEO of JSW Sports, shared that the Sajjan Jindal Family Trust is the main investor in the fund, with Parth Jindal leading it.
Support from JSW Group:
"We have been closely watching the growth of e-sports and gaming, and we are excited to see Indian champions emerging” Parth Jindal, MD of JSW Cement, JSW Paints, and Founder of JSW Sports said.
“We're proud to support Centre Court Capital's new fund, which will drive growth and innovation in this growing sector”, he added.
CCC to introduce an offshore feeder in GIFT city:
Moreover, Ghouse mentioned that CCC will soon introduce an offshore feeder in GIFT City to increase capital from investors worldwide.