Mobile games company Nazara Technologies has created a Rs 5 crore seed fund for game development companies in India. The company is also expecting other early stage investors to co-invest with it to raise the size of the fund to Rs 20 crore. Nazara CEO and Founder Nitish Mittersain said that initially it will focus on Indian studios that are attacking the global market and at those developing India specific content. The company is looking at people who have just started making a game or are in the process of developing a game and those who have already launched on app store, but need more support in terms of scaling it up. The seed fund will pump in 25-50 lakh to game development companies, giving them enough funds to start work on their second game after finishing one. Mittersain said that the average cost of developing a mobile game in India ranges from Rs 5 lakh - 25 lakh and Rs 10 lakh on an average. Apart financing the game development the company will also see to it that these developers have access to an advisory board that will include people from gaming industry from India and abroad. The seed fund will fund both free-to-play and paid games, but will prefer the freemium model that uses in-app purchases to monetise. "We already work with a lot of ad networks and have our own ad mediation platform which will also be offered to the developers. Using this they they can quickly optimise their ad revenues. They can also include a simple…
