CNBC: Ampverse and DMI Finance Form Joint Venture

2023-05-25

CNBC: Ampverse and DMI Finance Form Joint Venture

Ampverse, Asia’s leading gaming ecosystem, and DMI Finance, the Non-Banking Financial Company (“NBFC”) of the DMI Group, have joined forces to shake up the esports industry in India. The companies have formed a joint venture to co-develop esports intellectual properties (IPs), as well as data-driven, tech-enabled products and services for gamers. 

The partnership will leverage Ampverse’s expertise in gaming communities and IP, and tech-enabled marketing solutions, and DMI Finance’s prominent position in the digital consumer, MSME finance, and asset management across India. The first co-developed IP, College Rivals – Esports Series, is set to launch from June 2023 across 25 college campuses in India, culminating in an event in Mumbai in December 2023. 

Charlie Baillie, Co-Founder and Chief Strategy Officer of Ampverse, said, “After months of strategic planning, Ampverse and DMI Finance are proud to unveil our new joint venture, anchored by a common vision of realizing the immense potential of the booming esports and gaming industry in India. With a commitment to delivering the very best in gaming experiences and products, we are thrilled to embark on this exciting journey together. We are equally delighted to have a seasoned executive, Ashwin Haryani, joining our team to help drive our business forward and shape the future of gaming in India.”

Spearheading Ampverse DMI’s activity in India as Country Manager to drive the joint venture to the next level, Ashwin Haryani, former VP Esports at gaming unicorn Mobile Premier League (MPL) and founder of GamingMonk, said “I’m excited to join Ampverse and DMI Finance to take gaming in India to the next level. Together, we’ll redefine esports and gaming intellectual properties, delivering exceptional experiences. I’m thrilled to be part of this transformative journey”

Shivashish Chatterjee, Co-Founder and Joint Managing Director of DMI Finance said, “We firmly believe that India is leading the global digital revolution with the increasing adoption of smartphones and ubiquitous access to data. With millions of casual and dedicated participants across the country, Esports is both the competitive and spectator sporting activity of the future. Together with Ampverse, we’re excited to play a role in growing this already buoyant ecosystem and to make it accessible to a new generation of digital-native enthusiasts.”

According to a report by Maple Capital Advisors, the Indian esports market is projected to grow to $1.1 billion by 2025. The Indian government has accelerated the development of the sector by officially recognizing esports as a “multi-sports event.” The joint venture between Ampverse and DMI Finance, therefore, is expected to revolutionize the esports industry in India, creating a dynamic and engaging gaming experience for players and fans across the country. It is a game-changing move that will drive the industry forward, and Ampverse together with DMI Finance are poised to lead the charge.

Source: CNBC