The Games Fund Adds $ 17 Million To Its War Chest Of Games Investment
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The Games Fund has added $ 17 million in funding to its war chest of investment in games, thanks to new support from mobile game companies Scopely and Com2Us.
The Games Fund launched in April and quickly surpassed its initial target of $ 30 million. The Moscow and Los Angeles venture capital firm is still raising funds, but it has already announced four investments and plans to close the fundraiser at $ 50 million this fall to ensure continued investments.
Maria Kochmola started the company with Ilya Eremeev. They both previously worked for Mail.ru’s My.Games division, which launched a game fund called MGVC. Kochmola has been Director of Investments at MGVC since its inception in 2017, and has led more than 35 investments. Of these, six companies were acquired.
Co-founder Ilya Eremeev said in an interview with GamesBeat that he believes there are over 5,000 game companies in Eastern Europe, many of which are in the top rankings.
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Kochmola said in our previous interview that she believes 70% of the fund will be invested in mobile platforms, but the company can co-invest with others in PC and console game developers. She said the fund will not invest in adult games, gambling or games for children.
Kochmola said 60% of the investments will likely be in Eastern Europe and Russia, and maybe 40% will be invested in the United States and Europe.
Kyu Lee, president of Gamevil Com2Us USA, said in a statement that his company has noticed a lot of talent in Eastern Europe and that this investment could help accelerate the region’s growth in games. Tim O’Brien, Scopely’s chief revenue officer, said in a statement that The Games Fund has a deep and sophisticated understanding of exceptional talent across Eastern Europe, which allows Scopely to connect more with some. from the most creative game studios in the region. .
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