Nazara Technologies raised Rs 100 crore funding

Nazara Technologies, the gaming and sports media firm, has raised Rs 100 crore from Instant Growth Limited (IGL), advised by Hornbill Capital Advisers.

IGL is an investment vehicle of the Hornbill Orchid India Fund’s North America-based limited partners (LPs).

We are pleased that they (Hornbill) share our conviction and enthusiasm about the future of India’s gaming industry and the potential for value creation provided to investors by gaming,’ said Manish Agarwal, CEO of Nazara.

Hornbill Capital’s leadership team has been part of many consumer internet companies’ growth story, and we look forward to leveraging their experience of partnering with some of the world’s smartest technology entrepreneurs and getting an inside view of the blitz scaling of their portfolio companies in the last decade,” Agarwal added. The company has applied for an initial public offering in the last decade.”