M3M India Family Office acquires NCR franchise in Indian Pickleball League

The promoter family behind M3M India has expanded its interests beyond real estate by entering the emerging sports management space through the Indian Pickleball League. The M3M India Family Office has acquired the NCR franchise in the debut edition of the competition, with the team named Capital Warriors Gurgaon, marking a significant move for the group in new age consumer sectors and the Indian Pickleball League.

The Capital Warriors Gurgaon franchise will be led by Dr Payal Kanodia and Aishwarya Bansal from the M3M India Family Office. They will drive strategy, brand building and long term vision for the team as it represents NCR in the league.

This is the second high profile investment by the family office in consumer focused segments. Earlier, it invested USD 20 million in beauty tech platform Kult, acquiring 55% equity at a time when India’s beauty and personal care market has been expanding rapidly.

Pickleball has been positioned by the family as a sport with strong potential in youth culture and urban engagement. Bansal described pickleball as 1 of the fastest growing sports globally and said India is well placed to be a leader in this space. She framed the investment as a commitment not just to sport, but to community, youth engagement and future urban experiences.

Bansal said the Capital Warriors Gurgaon franchise aims to reflect the spirit of new age India, describing it as energetic, inclusive and globally inspired. She also thanked the Times of India Group for creating a platform that allows emerging sports to gain visibility and support.

What does this investment mean for sports and community engagement

At the launch, Dr Kanodia highlighted the role of sports in character building, discipline and resilience. She pointed to Lakshya, the flagship sports initiative of the M3M Foundation, as part of 9 programmes focused on nurturing talent and improving access to sports infrastructure across India.

She noted that the foundation has committed to developing 50 pickleball courts across the country, particularly to train and support underserved children. The aim is to encourage active and healthy living while opening new pathways for inclusion and community empowerment.

Market research from Bonafide Research indicates that the Indian pickleball market is projected to grow at a compound annual growth rate of approximately 26% from 2024 to 2029. Participation is said to be rising, with active players reportedly increasing by 275% in recent years and forecasts suggesting more than 1 million players in India by 2028.

The sport has relatively low barriers to entry since existing tennis or badminton courts can often be adapted, making it a cost effective option for communities and clubs. It is played by people from about age 8 to age 80 and appeals to both recreational and competitive players.

The Capital Warriors Gurgaon franchise will represent NCR in the inaugural season of the league backed by the Times of India Group, bringing together athletes, coaching talent and fans around the sport.

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