Blue Ocean Games, a venture fund, kicks off with a $30 million investment aimed at supporting independent game developers
Blue Ocean Games has introduced a new investment fund of $30 million to support independent game developers.
Initiated by Damian Lee, who was previously leading investments at Krafton, the company receives backing from Krafton itself. The new fund utilizes a novel investment approach known as SAIL, or Structured Agreement for Indie Launch.
SAIL targets game development right from the concept stage, ensuring developers receive $100,000 individually and a maximum of $300,000 for each team throughout a two-year span. The structure is a mix of equity and revenue sharing, ensuring developers maintain intellectual property rights, fostering a balance between creative freedom and financial returns for investors.
Furthermore, recipients of the fund will benefit from various services like incorporation support, accounting, and mentorship from seasoned professionals in the industry. Developers will also join cohorts aimed at promoting collaboration and exchange of knowledge and resources.
The fund, initially focusing on solo developers and small groups, plans to extend its scope to larger teams through subsequent funds. Damian Lee expressed concern about the disparity between investor funding opportunities, developer ambitions, and gamer expectations, aiming to reshape the industry's landscape.
Lee elaborated that the goal is to align player interest with developer zeal, leveraging community backing and consistent funding. The fund intends not only to select profitable projects but to widen the market, thus unlocking more creative projects.
Maria Park from Krafton highlighted the challenges indie developers face with early-stage funding, stressing that Blue Ocean Games provides a progressive framework to offer essential financial resources, paving a sustainable path to success.
A talent identification initiative, Rising Tide, will be part of this endeavor, featuring online contests and challenges to help developers showcase their talents and gain recognition. The first challenge commences on May 1, 2025, coinciding with the launch of applications for direct funding, operated in collaboration with Global Game Jam.
Lee described Rising Tide as an opportunity for developers at various stages to validate their ideas, gain confidence, and consider funding options without obligation. He emphasized that these efforts are investments not just in games, but in the industry's future and the upcoming wave of creative professionals.