Centre Court Capital, a fund with a focus on sports technology, announced the initiation of a venture capital fund valued at approximately 3.5 billion rupees ($42 million) on Thursday. This new fund has garnered contributions from prominent investors, including the proprietors of India’s JSW Group and the investment arm of billionaire Azim Premji.
As of now, Centre Court Capital (CCC) has successfully raised 2 billion rupees from various stakeholders such as athletes, corporate entities like SG Sports (associated with APL Apollo’s sports and entertainment sector), aiming to support entrepreneurs who introduce cutting-edge technology into the realms of sports and gaming.
India is recognized for hosting three gaming unicorns: Game 24X7, Dream11, and Mobile Premier League, and it boasts the world’s second-largest gamer population. Market analysts highlight the significant factors contributing to the surge in the gaming industry in India, including the vast young demographic, increasing disposable income among wealthier segments, and a rise in smartphone sales.
Mustafa Ghouse, the founder of CCC, observed a remarkable increase in investment within the sports sector, which has seen a fourfold increase since 2020. Furthermore, he noted that the gaming industry is expected to witness a compound annual growth rate (CAGR) of 21% over the next five years, underscoring the vibrant growth prospects in these sectors.
