April 6, 2024: Centre Court Capital, which is a SEBI-registered Category II AIF (alternative investment fund), has launched a Rs 350 crore sectoral fostering venture capital fund to invest, promote sports tech and gaming.
Centre Court Capital sated that it will soon launch an offshore feeder fund in GIFT City to raise capital from international investors. The fund has already completed its first two investments in the sports tech space. It aims to focus on early-stage opportunities, earmarking Rs 8-24 crore, while reserving 40-50% of the fund for follow-on investments.
Parth Jindal, Founder of JSW Sports, said, “Over the last decade, we have backed, invested and developed sport in India in a big way, and our commitment stems from our belief in the potential of sports in India. We’ve also been tracking the growth of the eSports and gaming sectors and we’re excited to see the champions from India emerge.”
Centre Court Capital General Partner Mustafa Ghouse said, “The sports and gaming sectors are experiencing unprecedented growth in the country. Tech is dominating the narrative of how sport is played and consumed, and we want to be at the forefront of this revolution. We have seen a tremendous rise in both public and private investment in Sports which has more than quadrupled since 2020.”
Centre Court Capital raises ₹200 Cr
The fund has already raised Rs 200 crore to date. The fund has the backing of anchor investor Sajjan Jindal Family Trust.
The funding Led by Parth Jindal, the trust has holding in leading steel producer JSW Group and also actively invests in the sports segment. Centre Court Capital was founded by Mustafa Ghouse, former CEO of JSW Sports, along with Alok Samtaney, former Investment Director with TVS Capital and Sabre Partners.
Besides the Sajjan Jindal Family Trust, the other investors in this fund are the Small Industries Development Bank of India (SIDBI), PremjiInvest, USK Capital, GMR Sports, and SG Sports. The release from Centre Court Capital mentioned that there are also other notable figures from the world of sports and media.
