The Games Fund invests in 4 Eastern European game studios
The Games Fund, which raised $50 million earlier this year for a new game-focused venture capital fund, has invested in four early-stage game studios in Eastern Europe.
The Moscow and Los Angeles-based fund is moving fast amid a market that is full of game venture capitalists, but the firm believes it has an edge with the rich numbers of studios in Eastern Europe, said Ilya Eremeev, cofounder of The Games Fund, in an interview with GamesBeat.
He said the fund started its activities in April and actively scouted in emerging regions. The firm wants to be a bridge between international companies and local developers and help them integrate into the global gaming ecosystem.
“All of them show our strategy of investing in early stage companies, free-to-play mobile game developers, young developers, based in Eastern Europe,” said Eremeev. “They are all different with some of them working in the casual space and others on the opposite side of the spectrum in midcore and hardcore games.”
He expects to announce six more investments before the end of the year. And he has a lot to choose from, as he estimates there are 5,000 game companies operating in Eastern Europe. So far, the team has reviewed about 300 pitches. He said that hot trends such as nonfungible tokens (NFTs) and blockchain could be interesting at some point, but such game companies aren’t the fund’s primary focus. Source
