Transcend Fund raised $50 million to invest in games in the early stages of development
A new fund has appeared. It is called Transcend Fund and is ready to invest in gaming companies. To do this, he raised $50 million.
The organization is interested in projects at the early stages of development, VentureBeat reports. The Foundation is ready to consider games of different genres for different platforms from teams from any region. The fund plans to invest in seed rounds or in series “A” amounts from $ 200 thousand to $ 2 million.
Transcend Fund has already conducted several transactions:
- Last week, he invested an unknown amount in Nifty Games. These are the authors of sports simulators for mobile, who collected $ 12 million in the last investment round. The leader of the round was March Capital Partners;
- A number of other teams also received unnamed amounts. What kind of companies are not reported.
Note that the Transcend Fund is managed by Shanti Bergel, a veteran of the gaming industry. He was engaged in corporate and product development at EA, Playfish and FunPlus. Another top manager of the organization is Graham Gockley, a native of Zinga and a Microsoft consultant.
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