A team of game industry investors and creators has launched a new $50 million fund with the goal of putting its resources behind game developers seeking investment and access to the expertise of established professionals in development, publishing, and more.
The fund, helmed by managing partners Maria Kochmola and Ilya Eremeev, is targeting studios in Europe and the US, with the goal of providing between $2 million and $5 million to individual studios. According to Kochmola, organizers were originally targeting a $30 million fund, but raised its goal following a strong response from investors.
"Games have emerged as the largest market in mainstream entertainment, with explosive growth over the past year and further acceleration expected in 2021 and beyond," reads a statement from Kochmola.
"Initially we were targeting a $30M fund, but we underestimated interest from investors to the games industry and are now well over our initial goal. We are close to $50M and still have some room but expect to close the fundraising by the end of summer."
The Games Fund itself boasts a network of industry experts with experience in development, publishing, operations, and investment, and aims to use those connections to help the studios it invests in thrive.
"Western Europe is rich with talented developers, but they often lack funding opportunities," adds The Games Fund advisor and Vorhaus Advisors CEO Mike Vorhaus. "The Games Fund is at the forefront of a new generation of video games investors, combining a deep understanding of games development with the best practices of venture capital. With our vast connections in Eastern Europe and the US, we will empower developers from emerging territories and help them build global companies."
Developers interested in applying for funding or learning more about what The Games Fund has to offer can find details here.