The European Investment Fund has committed $20 million to support game development in the Nordic region

The European Investment Fund (EIF) has committed $21 million to advance game development within Denmark, Finland, Iceland, Norway, and Sweden.

This financial support, granted to the Swedish company Behold Ventures, aims to aid early-stage game development across the Nordic countries.

In 2022, the gaming industry in the EU produced $25 billion in revenue, noted for its rapid growth compared to many other sectors.

With over 75,000 employees working in 5,000 game-development and publishing studios throughout the EU, the EIF highlighted the importance of this funding to "bridge financing gaps and sustain global competitiveness."

Founded in 2021, Behold Ventures has, since its initial fundraising in November 2022, allocated close to $15 million to 18 game studios across Denmark, Finland, Iceland, Sweden, and the UK.

Magnus Kenneby, a partner at Behold Ventures, expressed excitement about the collaboration with EIF, stating, "This investment is pivotal for Nordic game development. It enables us to fast-track our objective of supporting and investing in top-tier game development talent, reinforcing the Nordics' stance as a leading player in the global gaming industry."