GameGroove Capital Fund opened in Kiev to support developers from the CIS
Yesterday, October 22, GameGroove Capital fund was presented in Kiev. He will invest in gaming startups in the CIS. The total amount of investments will reach $6 million per year.
The new fund plans to invest annually in 20 startups at early stages of development. He is interested in the creators of not only games, but also useful solutions for game development. He will select them in the CIS. For this purpose, a branch was created in Ukraine, although, according to Gamesindustry.biz, the fund itself is registered in the USA.
The Kiev branch was launched by the former CEO of the Kiev branch of Crytek Alexander Zoll (Alexander Zoll). He is a strategic partner of the foundation along with Marvin Liao, Managing director of the 500 Startups Foundation.
Now Alexander Tsol heads the Ukrainian studio Blackwood Games. It was formed from Crytek veterans, about what App2Top.ru reported in February of this year. The studio will help selected startups in the development of their products.
Let’s add that Crytek itself is not involved in this venture project, as it is not associated with Blackwood.
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