Games2win has announced that Nirvana Venture Advisors has invested in the company by acquiring 10% of the Company’s equity previously held by early investors Nexus India Pvt. Ltd, ICICI Ventures and from a few senior Company employees. Nexus and ICICI continue to hold shares in the Company. Lead investor Clearstone Venture Partners and SVB Holdings have not divested their shares in this transaction. As part of the transaction, Amit Patni, co-founder of Nirvana Venture Advisors, will join the Games2win Board.
Games2win owns over 600 proprietary games and entertains over 15 million players each month on its network and recently, we featured their Parking Frenzy Android game which has crossed 10 million downloads.
Very recently, Games2Win hired Tirath Kamdar in its board. Tirath Kamdar was an Entrepreneur in Residence at Lightbank and will be working with the Games2win team with a specific focus on Appucino, a location-based Mobile Social platform.
“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. I feel good that I have provided my original investors attractive returns while still keeping them invested in the business, and have also created wealth for my team members.” [Alok Kejriwal, Founder of Games2Win].
Exactly a year ago, the company had raised $6mn funding Series B investment round from Clearstone Venture Partners and Silicon Valley Bank (SVB India Capital Partners).