Deal Corner -
Clearstone Venture Mauritius acquisition of a stake in Games2win India Private Limited
Clearstone Venture Mauritius, along with SVB Financial Group (belonging to the Silicon Valley Bank group), acquired a stake in Games2win India Private Limited (www.games2win.com), a leading online gaming portal, and a spin-off from Contests2win.com India Private Limited, for approximately US $ 5 million. The deal, which closed in March 2007, confirms that the online gaming market in India is burgeoning. NASSCOM projects the gaming market in India to be worth at least US$424 million by 2010.
We, at Nishith Desai Associates, acted as counsels to Clearstone Venture Mauritius and SVB Financial Group in this acquisition. Our scope of services included due diligence, documentation and advising on various issues associated with the same.