Early stage VC Nirvana Venture Advisors, has acquired 10% stake in online gaming company Games2Win whose equity was previously held by early investors Nexus India Pvt. Ltd, ICICI Ventures and from a few senior Company employees.
As part of the transaction, Amit Patni, Co-Founder of Nirvana Venture Advisors, will join the Games2win Board, Nexus and ICICI, however continue to hold some shares in the company and lead investors Clearstone Venture Partners and SVB Holdings have not divested their shares in this transaction.
Alok Kejriwal, CEO and Co-Founder of Games2Win, said, “We have very aggressive expansion plans for Games2Win and Nirvana Venture Advisors are excited by our ideas. Given that we have sufficient capital for growth, Nirvana invested in the company by providing partial exits to the early shareholders and key employees.”
Recently, Parking Frenzy, one of the most successful game developed by Games2Win was downloaded more than 3.6 million times. Other popular games include Super Mom (iOS), Makeover Madness (iOS), Volcano Flight (iOS) and Best Friends Forever (iOS).
As of now, the company owns more than 600 proprietary games and has over 15 million players each month on its network. Also, the games are licensed 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.
Rajan Mehra, MD of Nirvana Venture Advisors, said, “We are excited by what Games2win is creating and this investment allows us to align with the company at the right stage and also participate in its future success.”
ICICI Ventures and Nexus Venture Partners had invested in the company in 2006.
In March 2011, Games2Win had raised $6 million in a series B funding from Clearstone Venture Partners and Silicon Valley Bank (SVB India Capital Partners).
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