Invests in WinZO through a mix of primary and secondary instrument
Bengaluru, NFAPost: Private equity firm Bain Capital Co-Chairman Stephan Pagliuca has invested in WinZO through a mix of undisclosed primary and $1 Million secondary.
As a part of this investment transaction, WinZO has also conducted one of the first ESOPs buy-out worth $1Million of its early investors and employees.
Stephan Pagliuca, who is also a co-owner of the popular NBA Basketball team, Boston Celtics, has invested through his office Pags group, demonstrating his bullish projections about WinZO’s performance and rapidly booming Indian gaming market.
It is to be mentioned that gaming was one of the very few industries in India that not only survived but showed positive growth amidst the Covid-19 pandemic and lockdown. This is Stephan Pagliuca’s first investment in India.
Earlier this August, the vernacular gaming platform, WinZO, announced its $18 million Series B led by global interactive entertainment fund, Makers Fund based in Singapore, and New York-based Courtside Ventures. Both the funds made their first-ever investment in India through WinZO.
Commenting on the investment, WinZO Co-Founder Saumya Singh Rathore said the company is thrilled to be backed by Steve, an investor of high repute in our growth journey.
“The kind of confidence exhibited by industry experts from across the globe is a testament to the scalable, sustainable and robust business we have built-in a very short span of time. It’s soul-satisfying to be able to generate value through ESOP buyout for our early employees too. This is just the beginning of an exciting journey towards solving social entertainment for Bharat.” said WinZO Co-Founder Saumya Singh Rathore.
WinZO is the largest vernacular social gaming platform in India, launched in early 2018. The company partners with third party game studios to host their games on their Android app, creating a Netflix-like experience for users, who can enjoy multiplayer gaming formats with their friends or strangers online in a localized and personalised fashion.
Vernacular gaming platform
The platform is available in 12 languages with over 25+ million registered users. Clocking over 1 billion micro-transactions per month, WinZO offers 70+ games across various multiplayer formats. This vernacular social gaming platform focuses on building a community of gamers and game influencers in Tier 2 – Tier 5 cities of India.
WinZO is designed to deliver strong positive unit economics in the Indian gaming ecosystem, which experiences one of the highest engagements globally, through a unique micro-transaction led model. WinZO was founded by Paavan Nanda, a second-time entrepreneur, and Saumya Singh Rathore. It boasts a team of 60 members. Some of the major investors backing WinZO are – Makers Fund, Courtside, and Kalaari Capital.
Stephan Pagliuca is a Co-Chairman of private equity firm Bain Capital and also a co-owner of the popular NBA Basketball team, Boston Celtics. Stephan is well-known for his investments in Draftkings and Epic Games. He was a Democratic candidate for the U.S. Senate position formerly occupied by Ted Kennedy and is also a member of the HBS Board advisory.