Parth Jindal, known for his contributions to India’s sporting landscape through JSW Sports, is now venturing into the country’s sports tech and gaming sector. Anchoring a new venture capital fund named Centre Court Capital, Jindal aims to tap into the potential of India’s sports tech and gaming industry.
Money Control reported about Centre Court Capital’s recent announcement of the launch of its first Rs.350 crore fund, with commitments secured from domestic investors, including the Small Industries Development Bank of India (SIDBI), Premji Invest, and others. The fund also includes investments from corporate sports investors like GMR Sports and SG Sports, as well as contributions from the Sajjan Jindal Trust.
The fund, led by former JSW Sports chief executive Mustafa Ghouse and former TVS Capital Funds investment director Alok Samtaney, will focus on areas such as sports technology, fitness, gaming, and eSports. With plans to make 15-18 investments from the fund, Centre Court Capital aims to support startups in sports analytics, content, broadcast, fan engagement, gaming studios, and more.
Ghouse emphasized the growing importance of technology in sports and entertainment consumption, noting the rise in investments in the sector since 2020. He believes that the time is ripe to launch a fund dedicated to this space, given the increasing maturity of user behaviour and spending habits in India.
The launch of Centre Court Capital comes at a time when there is increased interest in investments in India’s gaming and digital content industries. With South Korean gaming giant Krafton pledging a $150 million investment in Indian gaming startups and Japanese mobile entertainment company Mixi launching a $50 million venture capital fund for the Indian market, the sector is witnessing growth.
According to a recent report by Lumikai, the Indian gaming industry recorded $3.1 billion in revenue in FY23, marking a 19 percent growth from the previous fiscal year. With projections indicating a revenue surge to $7.5 billion by FY28, the sector presents opportunities for investors like Centre Court Capital.