Paytm First Games (PFG), the gaming app owned by India-based consumer and fintech group One97 Communications, has started a Rs 100m ($1.4m) corporate venturing fund, the Economic Times has reported.
The vehicle will invest in domestic game developers and studios creating content based on Indian culture and history.
PFG has also set aside approximately $42m to support the growth of the market for fantasy sports and other online gaming events during this financial year, according to DealStreetAsia.
PFG’s chief operating officer, Sudhanshu Gupta, said: “Our country has the potential to revolutionise the digital gaming arena with innovative designs, technology and talent. We believe it is the time to lead the digital gaming sector with Made in India games that becomes a global runaway success.
“Being a homegrown company, we want to play our part in enabling India’s gaming ecosystem. Our goal is to support over 200 talented developers, who may not have access to resources comparable to that of big studios.”
