The Games Fund has closed a new round. The fund raised $17 million from Scopely and Com2uS
A gaming fund with Russian roots, The Games Fund, attracted two large investors. Gaming majors Scopely and Com2uS have jointly invested $17 million in the fund. This will allow The Games Fund to reach the goal of $50 million this fall.
The current deal is officially closed. This is the second round of attracting investments from The Games Fund. Recall that at the start this April, the fund, which was founded by Ilya Yeremeyev and Maria Kochmola with the participation of Sergey Titov and GEM Capital, reported overcoming the $30 million bar and plans to raise another $ 20 million by the end of the summer.
The Games Fund positions itself as an early-stage venture fund. One of his main focuses is companies from Eastern Europe. And, as far as can be judged by the comments of new partners, this is what attracted them.
The Games Fund team has a deep and versatile understanding of the game development market in Eastern Europe, which will allow Scopely to establish links with the best game studios in the region. Chief Revenue Officer at Scopely
President of GAMEVIL Com2uS USA
Representatives of the foundation itself note that today there are more than 5 thousand gaming companies operating in Eastern Europe. Games created here often become hits. However, there is a problem.
General Partner
And the foundation sees as its task the integration of local teams into the global infrastructure on completely different terms.
“We are a venture fund, we have no strategic interests (that is, we are not interested in gaining control, takeover, rebranding, influencing product strategy, and so on). Our goal is to help grow the company and sell it as dearly as possible,” Yeremeyev noted earlier in an interview.
Among the investors of The Games Fund are VK co—founder Lev Leviev, as well as the founders of Deus Craft and Aream & Co. The fund’s team of advisors includes Viktor Orlovsky, founder Managing Partner of Fort Ross Ventures, Igor Ryabenky, founder of Altair Capital, Mike Vorhaus, founder of Vorhaus Advisors, and Ilya Karpinsky.
This summer, the fund announced the first deals. He invested $2.4 million in four small studios: Kharkiv Jarvi Games, Mogilev Vandrouka Games, Minsk Purple Games and St. Petersburg Hypemasters.
