Nirvana Venture Advisors has acquired 10% stake in online gaming company - Games2Win from it's early stage investors - Nexus Venture Partners and ICICI Ventures. Some senior employees of the company have also sold some shares to the new investor.

As part of the transaction, Amit Patni, co-founder of Nirvana Venture Advisors, will join the Games2win Board.

Founded in 2007 by Alok Kejriwal and Mahesh Khambadkone, Games2win India Private Limited had raised $5.5 Mn in Series A funding from Clearstone and Silicon Valley in 2007. It then raised Series B funding of $6 Mn from existing investors Clearstone Venture Partners and Silicon Valley Bank (SVB India Capital Partners) in March'11.

ICICI Ventures and Nexus Venture Partners had invested in the company in 2006.

The company owns 600 proprietary games that are played by over 20 million users each month and its games are licenced by publishers such as Yahoo.com, Viacom Kids and the Discovery Channel. The company currently employs 70 people and plans to increase it to 120 in the next 6 months.

The company operates a casual games portal, and has released a number of iOS (mostly free-to-play) and social titles like Junkyard Mayhem and Super Mom.

Nirvana Venture is a $75 Mn VC fund set up by Amit and Arihant, sons of Gajendra Patni. The fund focuses on mobile and internet start-ups in India and plans to invest $500K to $4 million in early-stage, besides later-stage investments. The company made it's first investment in August last year by investing in Pune-based NextLeap Career Solutions Pvt. Ltd.

Previous Article

Cloud Telephony Startup - Exotel Raises Funding From Mumbai Angels & Blume Ventures

Next Article

Srei Infra Plans NCD Issue

All Comments

Readers' Recommendations

Post a Comment

Display Name		E-mail
Comment
Comments are moderated and generally will be posted if they are on-topic and not abusive.