Nazara Technologies Limited (BSE: 543280 NSE: NAZARA), India’s leading diversified gaming and sports media company, today announced its largest fund raise to boost its growth trajectory. The company’s board has approved a preferential equity issue to raise INR 900 crores, subject to shareholder and regulatory approvals. This capital infusion will fuel strategic acquisitions, fund business expansion, and enhance the company’s ability to seize new growth opportunities.

The preferential equity issue amounting to INR 900 crores will be placed with marquee investors such as SBI Mutual Fund, Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments and Aamara Capital, further strengthening Nazara’s financial foundation for long-term expansion. These shares will be subject to SEBI regulations and lock-in requirements as per Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018.

In a parallel development, Nazara also acquired an additional 19.35% stake in Absolute Sports Pvt. Ltd., the parent company of Sportskeeda, for INR 145.5 crores, with 50% of the consideration paid in cash and the remaining amount in stock. With this, Nazara now holds a 91% ownership stake in Absolute Sports, solidifying its leadership position in the sports media domain.

Sportskeeda, Absolute Sports’ flagship brand, reaches millions of sports fans globally each month, with significant traction in India and the U.S., where it ranks among the top sports platforms. In addition, Absolute Sports has recently expanded by acquiring  Pro Football Network (PFN), SoapCentral, and Deltia’s Gaming, further diversifying its sports and entertainment portfolio.

Nitish Mittersain, CEO & Jt MD of Nazara Technologies Limited remarked “Nazara has demonstrated its ability to attract top-tier investors who believe in our long-term vision of establishing India’s first globally respected gaming powerhouse. This INR 900 crores fundraise will be instrumental in accelerating our growth across key segments. Additionally, increasing our stake to 91% in Absolute Sports (Sportskeeda) reinforces our leadership in the sports media landscape. The growth of Absolute Sports, from its early days as a startup to becoming a global media player, underscores our commitment to supporting innovative teams that consistently deliver transformational growth.

Mangopay, a modular and flexible payment infrastructure provider for platforms which was acquired by Advent International in 2022, today announces the appointment of fintech industry leader Sergi Herrero as Chief Executive Officer. Sergi succeeds Romain Mazeries who is stepping down from his role.

Throughout his career, Sergi has earned a strong reputation as a results-focused leader who brings both payments domain expertise and proven CEO capabilities. Sergi was previously the Global Director for Payments and Commerce Partnerships at Meta, where he launched and grew its payment and commerce capabilities. He has also held senior executive roles at Square and BNP Paribas, and served as Co-CEO of global telecommunications company VEON.

Sergi succeeds Romain Mazeries, who was part of Mangopay’s founding team and has held the position of CEO for the last six years. Romain remains a member of Mangopay’s Board and will continue to work closely with the company.

Xavier Garambois, Chairman of the Mangopay Board, said: “Sergi brings a wealth of experience and vision that aligns perfectly with our ambitions for Mangopay. Mangopay is on an exciting growth trajectory and we are confident that Sergi is the right leader to take the business to its next stage of development.”

Commenting on his appointment, Sergi Herrero said: “Mangopay provides transformational payment solutions for platforms internationally. Our offering for this expanding area of the ecommerce industry is both innovative and highly differentiated. I am extremely excited by the significant growth opportunities ahead for Mangopay, and to join this talented team at such a pivotal point in the company’s journey.”

Xavier Garambois adds: “On behalf of the Board, I want to thank Romain for his leadership over the past six years. The strong foundations that Romain and his team have put in place have set Mangopay up for long-term growth. We are extremely grateful for his unwavering commitment and I want to deeply thank him for his service as CEO.”

Fabio Cali, Managing Director at Advent International, said: “Under Romain’s leadership, Mangopay has grown to be a global category leader in the payment industry. We are excited for the next phase of Mangopay’s journey, and we believe Sergi’s expertise will accelerate Mangopay’s continued growth and development to become one of the global payments providers powering the platform economy.”

GAMING and technology marketing agency, Heaven Media, has bolstered its team with the addition of a senior hire.

Joining the creative marketing agency as Chief Revenue Officer is Marco Chillon, who brings over 25 years of gaming and technology experience with him.

Based in Hamburg, Germany, Marco will be responsible for leading Heaven Media’s business development team and growing its current client base on a global scale.

Marco’s previous roles include 12 years as general manager of Europe at Razer, in addition to eight years at Microsoft EMEA, and five years at Steel Series.

Commenting on his appointment, Marco said: “I’m thrilled to be joining the executive team at Heaven Media and to have the opportunity to strengthen the management structure here, whilst also growing the business with new partners.

“Heaven Media has a strong team of experts, with vast knowledge of the gaming and technology industries, so I’m excited to be working alongside a very dedicated group of people.”

Founded in 2006 by Mark Reed, Heaven Media is a leading creative marketing agency specialising in gaming and technology. With a headcount of over 80 across EMEA, USA, and APAC, Heaven Media works with clients on services including data and strategy, influencer marketing, social media, public relations, creative, and events. 

Mark Reed, CEO and founder of Heaven Media added: “Marco was the perfect fit to head up our business development team due to his vast experience in our core industries. I’ve personally known Marco for many years and he is someone I have consistently sought knowledge, insights, and friendship from.

“We are very fortunate to have Marco join us and I’m looking forward to continuing our growth with him.”