Centre Court Capital (CCC) announced the launch of a 3.5 billion rupees (approximately $42 million) venture capital fund, aimed at investing in sports and gaming technology. The fund has already secured 2 billion rupees in commitments, with contributions from various stakeholders, including the owners of India's JSW Group and the wealth fund of billionaire Azim Premji.
According to a press release by CCC, the fund will prioritize backing founders who are introducing innovative technology solutions into the sports and gaming ecosystem. Notable investors include athletes and companies such as SG Sports, the sports and entertainment division of APL Apollo, a leading steel tubes and pipe manufacturer.
India's prominence in the gaming industry is highlighted by the presence of three gaming unicorns: Game 24X7, Dream11, and Mobile Premier League, coupled with the nation boasting the world's second-largest population of gamers. Analysts attribute this growth to factors such as a sizable youth population, increasing disposable incomes among the affluent, and rising smartphone penetration rates.
Founder of CCC, Mustafa Ghouse, remarked on the significant uptick in both public and private investment in sports, which has seen a remarkable increase since 2020. He also noted the promising trajectory of the gaming sector, projected to grow at a compound annual growth rate (CAGR) of 21% over the next five years.