Pressplay Capital is Already in Motion: Early Deals, Early Wins
Two high-conviction investments — and a surprise full-length podcast included to kickstart the journey!
Hey founders, funds, & friends 👋,
A warm welcome to the 60th edition of the “Mehtta Ventures Dubai” investment digest newsletter, your weekly news digest about GAMES [Gaming, Ad Tech, Media Tech, Entertainment and Sports Tech] + AI startup and scaleup stories across the Middle East & India, digital / business trends shaping our lives and curated venture investment opportunities.
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What happens when two of the world’s most dynamic ecosystems — India and the UAE — come together to create a new "Silk Route" for innovation and investment?
In our upcoming Pressplay Podcast, I chat with Devang Mehta, Venture Partner at Pressplay Capital, to explore how the India–Middle East corridor is evolving into one of the most powerful bridges for startups, investors, and capital flow.
Devang shares a sharp perspective:
> The UAE’s higher per capita investment power paired with India’s massive innovation engine creates a fertile ground for early-stage opportunities
> Shared consumption patterns — from sports to food to streaming content — make it seamless for Indian startups to expand into the Middle East
The combination of capital efficiency, favorable tax treaties, and strengthening diplomatic ties sets the stage for a cross-border corridor unlike any seen before.
As Devang says — "It's the same consumption DNA, but with a higher willingness to pay — making it a perfect dynamic for startups looking to scale and investors looking to diversify."
At Pressplay Capital, we’re excited to invest in this corridor, identifying breakout startups across Gaming, Media-Tech, Ad Tech, Entertainment, and Sports Tech who are ready to scale across these two markets.
🎙️ Full episode on YouTube drops later this week!
HOWEVER, we decided to drop it on Substack first :-)
Devang Mehta, Venture Partner at Pressplay Capital shares his journey from Silicon Valley operator to one of India’s early champions of tech startups — and now, his role shaping the future of venture investing in the attention economy.
^ ^ Across a wide-ranging conversation, we cover:
Lessons from three decades as an operator, board member, and investor across India and the U.S.
What drove Devang’s early conviction in India's tech ecosystem, long before it became mainstream
How he defines a great early-stage investor — and why founder intuition, pattern recognition, and market judgment matter differently at different times
Why the GAMES sectors (Gaming, Ad Tech, Media-Tech, Entertainment, and Sports Tech) are poised for breakout growth — and how Pressplay Capital is positioned to fuel it
The unique opportunity across the India–Middle East corridor, where innovation and capital are combining to build the "new Silk Route" for the attention economy
Common VC blind spots in Media-Tech and Gaming investing — and how to avoid them
Devang’s personal filters for evaluating early-stage teams — especially in creative and consumer-driven sectors
Non-obvious levers that help startups scale faster beyond capital: distribution partnerships, monetization design, and more
How building scalable, exit-ready companies requires more than capital — it needs operating support, domain expertise, and strategic foresight
This episode offers a masterclass for founders, operators, and investors alike — rich with frameworks, practical wisdom, and a roadmap for building enduring companies in the new attention economy.
Today’s program:
How Deal Warehousing Creates an Early Advantage for Pressplay Capital LPs
What is Deal Warehousing?
Pressplay Capital’s Current Deal Warehousing Focus
Why It Matters for Our LPs
And….Action!
How Deal Warehousing Creates an Early Advantage for Pressplay Capital LPs
Pressplay Capital Deal Warehousing: Laying the Foundation for Strong Early Returns
At Pressplay Capital, we believe early preparation is key to delivering strong outcomes.
That’s why — even before our fund officially completes its first close — we are already actively shortlisting high-conviction startups for deal warehousing.
But what exactly is deal warehousing, and how does it benefit our LPs?
What is Deal Warehousing?
Deal warehousing is the practice where the General Partner (GP) personally invests early into strategic opportunities before the fund is officially operational.
Once the fund is set up, these pre-identified assets can be transferred into the fund at the original entry terms (often with independent valuation confirmation).
Key benefits for LPs:
De-risked early deployment: LPs enter into a portfolio already seeded with high-quality, vetted startups.
Faster value capture: Warehoused deals often benefit from growth momentum and value appreciation even before the fund’s first formal deployment.
Stronger portfolio signaling: Having breakout companies from day one helps attract better co-investors, follow-on investors, and exits.
In short, deal warehousing sets up the fund — and its LPs — for early traction and stronger risk-adjusted returns.
Pressplay Capital’s Current Deal Warehousing Focus
We are currently finalizing diligence on two standout startups aligned with our GAMES sectors thesis (Gaming, Ad Tech, Media-Tech, Entertainment, Sports Tech).
Here’s a glimpse into the opportunities — without naming the companies:
1. Regional Gaming Studio with Global Traction
(Co-investing alongside some of the largest and most respected VCs in the Middle East)
Why We Are Investing:
Exceptional Founders: A resilient team that has spent 9+ years building a culturally relevant gaming platform, surviving and thriving through COVID disruptions.
Global Revenue Footprint: While rooted in the Middle East, the majority of their downloads and monetization come from high ARPU markets like the United States, with over $1 million in revenue last year.
Attractive Entry Valuation: Although raising a Series A, valuation benchmarks suggest 10X+ exit precedents in the region for comparable companies.
Strategic Value-Add: Pressplay Capital will unlock India’s gaming market for this studio — a natural extension given similar gaming tastes — to boost user acquisition, revenues, and future valuation.
2. Global Sports Streaming Infrastructure Platform
(Already present across India, Middle East, and Australia)
Why We Are Investing:
Mission-Driven Founders: Solving the critical problem of streaming grassroots and Tier 2/Tier 3 sports, where 99% of global sports participation happens but remains largely underserved.
Multi-Market Distribution: Strong early traction in India, Middle East, and Australia, showing product-market fit across geographies.
Exit Visibility: Acquisition conversations have already been initiated by strategic buyers, validating exit potential.
Attractive Valuation: Current raise offers an extremely compelling entry price relative to their growth trajectory and international expansion footprint.
Why It Matters for Our LPs
These warehoused startups are high-conviction bets:
Both companies are post-revenue, founder-led, and globally scalable.
Both are raising at attractive Series A valuations, with realistic exit multiples (7–10X) in 3–4 years.
Both align perfectly with Pressplay’s operational model:
Hands-on go-to-market support, cross-border expansion, monetization acceleration, and exit structuring.
By starting the fund with such deals already under diligence and secured at early valuations, Pressplay Capital is positioning its LPs ahead of the curve — reducing deployment risk while maximizing upside.
We look forward to sharing more updates on our first investments and setting the foundation for a breakout fund focused on the attention economy.
Thank you for your trust and partnership.
For any questions or if you’d like to schedule a conversation, feel free to reach out.
📬 Subscribe to our newsletters for deep dives into the attention economy & media-tech:
Mehtta Ventures Dubai (Attention Economy) – Subscribe here
The Streaming Lab (Streaming Industry) – Subscribe here
+ 🎙️ Follow our Pressplay Podcast for conversations with leading entrepreneurs (and VCs coming up) in the space:
Watch on YouTube – Pressplay Capital
> PressPlay is where the attention economy meets real builders.
> We’re excited for the future of media-tech and AI-driven streaming—and look forward to partnering with those who share our vision.
Interested Investors / Limited Partners, please go ahead and book time with us here
If you know of startup founders building in the “eyeball economy”, please go ahead and connect us. Let’s pay it forward together :-) 2025 it is!
Watch this space and subscribe / share with your friends.
While you wait for our next newsletter, I encourage you to check out our other newsletter / streaming consulting destination: The Streaming Lab where we cover streaming insights from MENA and India.
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