Bain Capital co-chairman Stephan Pagliuca, has invested in WinZO through a mix of primary and secondary investment. A part of the investment ($1 million) was made through a secondary transaction.
As a part of this investment transaction, WinZO has also conducted one of the first ESOPs buy-out worth $1 million for its early investors and employees.
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 pandemic and lockdown. This is Pagliuca’s first investment in India.
“We are 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.
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.