A maiden fund worth approximately $42 million, or Rs 350 crore, has been announced by Center Court Capital for startups in the sports and gaming industries.
Established by Mustafa Ghouse and Alok Samtaney, the fund will support entrepreneurs who are introducing cutting-edge technology and expanding the sports and gaming industry.
In order to attract capital from foreign investors, Centre Court Capital, a Category II AIF registered with SEBI, will shortly launch an offshore feeder fund in GIFT City. The fund’s initial two investments in sports technology have already been fully realized.
According to the fund, it will allocate between Rs 8 and 24 crores to early-stage opportunities and set aside 40–50% of the fund for follow-on investments.
Investors and athletes have committed a total of Rs 200 crore to the sector-focused venture capital fund. Several well-known individuals from the media and sports industries have also joined.
