Gaming platform Nazara Technologies Limited on Wednesday said it will allocate about $100 million (Rs 830 crore) towards strategic mergers and acquisitions over the next 24 months. In a separate development, Green Climate Fund (GCF) has secured an approval to invest $24.5 million in Avaana Capital’s climate and sustainability fund.
Nazara earmarks $100m for M&As
Gaming and sports media platform Nazara Technologies Limited on Wednesday said it will allocate about $100 million (Rs 830 crore) towards strategic mergers and acquisitions over the next 24 months.
“Nazara has witnessed significant success in its ‘acquire and scale’ strategy, evident in the post-acquisition growth of Kiddopia, Nodwin Gaming, and Sportskeeda, among others. Our decentralized model enables these businesses to operate autonomously under strong management, providing us with ample bandwidth to scale our platform,” said Nitish Mittersain, Joint MD & CEO of Nazara Technologies.
He added that the $100 million commitment will further bolster this endeavour, with a particular emphasis on investing in and acquiring gaming studios globally, targeting India’s 500 million gamers and the vast North American market.
GCF invests $24.5m in Avaana’s climate fund
The Green Climate Fund (GCF), recognised as the world’s largest climate fund, has secured approval to invest $24.5 million in Avaana Capital’s climate and sustainability fund.
The Avaana Climate and Sustainability Fund, which seeks to raise $120 million, had hit the first close at $70 million in June last year.
“The Green Climate Fund’s investment in India’s first tech-led climate VC underscores the transformative impact that technology and innovation have in carving low-emission and climate-resilient development pathways. It also further highlights the potential that India presents in developing solutions for mitigation and adaptation that are affordable and inclusive, enabling a just transition,” said Anjali Bansal, Managing Founder of Avaana Capital.
Avaana invests in thematic areas of energy and resource management, mobility and supply chains, and sustainable agriculture and food systems. Its portfolio includes FarMart, Ninety One Cycles, Kazam, Eeki Foods, Aerem, Sentra, Eggoz, TurnO, and Terra.do.
