PE Fund Investments
Cricket NFTs firm FanCraze raises $100-M led by Insight Partners
Mumbai-based digital collectibles company FanCraze has raised USD 100 million in a funding round led by New York-based private equity firm Insight Partners, with participation from B Capital. Mirae Financial, Tiger Global, Coatue Management, Sequoia Capital India, Courtside Ventures, and football star Cristiano Ronaldo's CR7. FanCraze, led by San Francisco-based Anshum Bhambri, will use the new funds for expansion of the company's metaverse across the cricket landscape for current and emerging partners. The company plans to use the proceeds to integrate new sports relationships and to accelerate the growth of its global team, R&D lab, user experience team, gaming studio, and marketplace platform where fans can buy, trade, and craft their NFTs.
From the Venture Intelligence PE-VC Deal Database: In Nov-21, FanCraze (via its Indian entity Faze Technologies Pvt Ltd), had raised USD 17.4 million in a seed round led by Tiger Global, with participation from Coatue and Sequoia Capital India. Dapper Labs, Samsung Next, Courtside Ventures, as well as Vivek Ranadive s Bow Capital also participated in the round. The startup had formed a partnership with the International Cricket Council (ICC) to create exclusive digital collectables (using non-fungible tokens, or NFTs) for cricket to launch on the Flow blockchain.
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