Centre Court Capital Launches ₹350 Crore Fund to Fuel India's Sports and Gaming Boom

SUMMARY

⏺ Mumbai-based venture capital fund Centre Court Capital launched a ₹350 crore fund to invest in early-stage sports and gaming startups in India. The fund is backed by prominent investors like Sajjan Jindal Family Trust, SIDBI, PremjiInvest and experienced leadership with expertise in sports and investment.

⏺ Centre Court Capital aims to be a frontrunner in India's sports and gaming growth. They see a booming sports and gaming market with India's second-largest gamer population and a projected 21% CAGR growth. They have already made two undisclosed investments and plan to invest between ₹8 crore to ₹24 crore per startup with a focus on follow-on investments.

Mumbai, April 3, 2024 – A new venture capital fund dedicated to fostering innovation in the Indian sports and gaming industry has arrived. Mumbai-based Centre Court Capital (CCC) has unveiled its maiden fund of ₹350 crore (approximately $42 million) to support promising startups shaping the future of these rapidly growing sectors.

Prominent Investors and Experienced Leadership

CCC, a SEBI-registered Category II Alternative Investment Fund (AIF), has already secured ₹200 crore in commitments from a distinguished group of investors. This group includes the Sajjan Jindal Family Trust, led by Parth Jindal, as the anchor investor. Other notable investors include the Small Industries Development Bank of India (SIDBI), PremjiInvest, USK Capital, and leading Indian sports investors like GMR Sports and SG Sports. Additionally, prominent figures from the sports and media world have joined the fold.

The fund boasts a leadership team with a unique blend of industry expertise. Mustafa Ghouse, a former Asian Games bronze medalist, ex-CEO of JSW Sports, and member of the Indian Davis Cup team, spearheads CCC. He brings extensive operational experience, including establishing India's premier Olympic training facility, the Inspire Institute of Sport. He also has a proven track record leading acquisitions and managing teams across major Indian sports leagues like the IPL, ISL, and PKL. Alok Samtaney, a seasoned investment professional with over 15 years of experience in venture capital and private equity, complements Ghouse's leadership. Samtaney's diverse portfolio and successful exits ensure a well-rounded approach to investment decisions.

Capitalizing on a Thriving Market

Ghouse emphasizes CCC's vision to be at the forefront of the Indian sports and gaming revolution. He highlights the significant growth in both public and private investment in sports since 2020, alongside a burgeoning startup ecosystem catering to the domestic and global markets. "India boasts the second-largest gaming population globally, with 396 million gamers," Ghouse remarks. "This sector is poised for a remarkable 21% five-year compound annual growth rate (CAGR)."

Early-Stage Focus and Future Plans

While the names of the first two investments in the sports tech space remain undisclosed, CCC is actively seeking early-stage opportunities with investments ranging from ₹8 crore to ₹24 crore. The fund reserves 40-50% of its capital for follow-on investments in promising ventures. To further expand its reach, CCC plans to launch an offshore feeder fund in GIFT City, attracting capital from international investors.

Centre Court Capital's arrival signifies a significant development in the Indian sports and gaming ecosystem. With its distinguished investor base, experienced leadership team, and strategic focus on early-stage ventures, CCC is poised to play a key role in fueling the growth of innovative startups and shaping the future of sports and gaming in India.