Dream 11’s Harsh Jain to set up investment fund; Nazara Technologies’ Nitish Mittersain invests in NFTically

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As India recuperates from the pandemic-induced economic slump, capital seems to be pouring into start-ups at a record pace. Online gaming has emerged among the firm favorites with several companies scaling significant valuations with more capital influx.

Some of India’s top gaming honchos have also turned investors themselves, making rather interesting bets in and outside India’s online gaming sphere. Most notable among them are the founders of India’s hottest online gaming companies Dream11 and Nazara Technologies.

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According to a report on The CapTable, Harsh Jain – co-founder and CEO of India’s largest online fantasy gaming platform Dream 11 – has set up an investment fund to back early and mid-stage startups.

Jain and his family are likely to invest 100 million dollars in setting up the fund. The total investment could shoot as high as 200 million dollars, which would make the fund potentially the largest to be set up by a new economy entrepreneur. The corpus, which will also include capital from outside investors, is still being decided.

Dream11 is also preparing to close a new round of funding at a valuation of 8 billion dollars in the coming weeks which is expected to be primarily a secondary sale of shares. Dream11 was valued at 2.5 billion in September last year.

In a similar move, the founder and MD of Nazara Technologies Nitish Mittersain has, in a personal capacity, invested in Toshendra Sharma’s NFTically team, a new platform for non-fungible tokens.

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“Happy to have had the opportunity to personally invest in and partner with Toshendra Sharma and the NIFTically team… they are like a shoplift for nets… check them out at,” shared Mittersain.

While Mittersain has invested in his personal capacity, his gaming conglomerate has been on an acquisition spree of sorts of late.

Nazara Technologies recently acquired a 100% stake in OpenPlay Technologies, which operates Classic Rummy, for Rs 186.4 crore which is dubbed as one of the largest deals in India’s online gaming industry. This was following by its independent subsidiary NODWIN Gaming buying the gaming and adjacent IP business of OML Entertainment for Rs 73 crore.