April 14, 2024 2:09 pm
Jindal-supported venture capital firm raises first fund to invest in Indian sports and gaming

Venture capital firm Centre Court Capital, backed by steel tycoon Sajjan Jindal, is on the hunt for $42 million to fund its inaugural sports technology and video game investments in India. The Mumbai-based fund aims to make 15 to 18 investments, primarily in Series A rounds, over the next three years. Founder Mustafa Ghouse has already secured $2 billion from backers, including Jindal’s family trust as the anchor investor, and is looking to raise the remaining amount by November.

India’s young demographic and growing spending power are driving a surge in popularity of gaming and sports. Although the sector is still in its early stages in India, changing consumer preferences are presenting new opportunities for investment. Ghouse believes that there has been a shift in mindset regarding fitness, sports, and gaming in the country, and that his fund will capitalize on this trend.

Centre Court Capital will focus on technologies that enhance athletic performance, content creation, monetization, as well as consumer-facing companies specializing in sleep and general fitness. The fund has already invested in two startups: a broadcast technology company and a sports analytics provider. It is also currently in discussions to support gaming studios. Investors include PremjiInvest, USK Capital, Small Industries Development Bank of India, GMR Sports and SG Sports.

Ghouse was previously head of investments at JSW Group’s Delhi Capitals cricket team and other franchises during his tenure at Jindal’s JSW Group. He has now joined forces with Alok Samtaney, a former principal at TVS Capital Funds to run Centre Court Capital together. They are focused on identifying promising startups in the Indian sports technology and gaming sectors for investment opportunities.

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