A Venture Capital known as The Games Fund offers to developers in Eastern and Central Europe a stash of $50M.
In this age, there’s no doubt that the video game industry has proven itself as one of the biggest salary earners of the entertainment field. During the boom of the industry, The Games Fund aims to gather unknown yet promising developers.
AAA studios take years to develop an enjoyable game. They even need to spend millions of dollars for the development from time to time. It’s so they could recoup the costs in a day.
Among the many genres, Indie games rise up to the top of the best-seller charts. Since they rise that high in those charts, they gather in profit that goes way beyond their expectations.
The Games Fund
A group of veterans within the video game industry and investors partnered to establish a VC called The Games Fund. They established it with success as the goal in mind. Within The Games Fund holds $50M funds for game developers that just started their career and are looking for investments.
In addition, the VC will give a hand to the developers in gaining connections with industry leaders and larger corporations. Once they got it, they could take the chance to ask for the device they need concerning development and publishing.
The Venture Capital claims to be knowledgeable in terms of industrious and developmental matters. That’s because their team comprises veterans in the video game industry. In an earlier period of time, they worked behind studios and games worth $300M.
According to the sources of thegamer, the plan of The Games Fund initialized their goal to raise $30M funds. However, it exceeded beyond that, reaching up to $50M instead.
The Games Fund members and statement
The key members behind the VC were Alexander Byhovskiy, Ilya Eremeev, Maria Kochmola, and Sergey Titov.
Kochmola stated that they were the first to be focused on funds in the Eastern Europe. Their advantage against their competitions is that they have connections and access with many skilled developers within their region. It shows to be very cost-effective. Also, it’s sometimes about 3 or 4 times less costly compared to in the United States. Kochmola may have also believed that the industry of video games has boomed during the pandemic. It came to this because people had no choice but to stay confined in their homes.
The current aim of The Games Fund involves working and creating together with more or less 5000 other developers. These developers are mostly across Eastern and Central Europe.
The studios will be able to reach out to the partners’ connections of the fund. It’s so they could attain heights that the majority of the public wouldn’t expect them to reach.
The VC will recruit a panel of a few advisors comprising Igor Ryabenkiy, Ilya Karpinskiy, Mike Vorhaus, and Victor Orlovskiy.
Vorhaus stated that the Western Europe is swarming with promising developers. Despite being promising though, they lack the funding opportunities. With the many connections The Games Fund holds, the unknown developers will emerge from the ground and will move towards building large companies in the future.