Owlcat Games has raised a million dollars from GEM Capital, previously engaged in the oil business
The developers of Pathfinder: Kingmaker received funding from GEM Capital, whose owner is close to Gazprom‘s management. The transfer amount is one million dollars.
What kind of company is Owlcat Games?
The studio became famous for the isometric role-playing game Pathfinder: Kingmaker. Even at the crowdfunding stage, $ 909 thousand was raised for its development. After its release, its sales amounted to “hundreds of thousands” of copies. The game itself was warmly welcomed by the players.
As for Owlcat Games itself, it was previously one of the internal studios Mail.Ru Group. However, in October, the studio announced that their relationship with the parent company was changing. Owlcat Games is starting to function as an independent business, and Mail.Ru The Group turns from the owner into a strategic partner and investor.
Already as an independent company, Owlcat Games, according to VentureBeat, received two sums. One whose size is unknown — from Mail.Ru Group, and the second, the mentioned million dollars, is from the investment company GEM Capital.
What kind of company is GEM Capital?
Since the foundation of GEM Capital in 2014, its main asset has been the oil First Oil Company, which actively bought up deposits in the early years. In June 2019, this asset was sold to the former CEO of the petrochemical concern SIBUR, Yakov Goldovsky.
It is known that GEM Capital also invested in the closed Vostok blockchain platform in December last year. There is no information on how much she invested, but the entire round amounted to $ 120 million. In June, the platform was fully purchased by the GHP Group financial group.
According to Kommersant, the managing partner of GEM Capital and its sole shareholder is Anatoly Paliy. He is close to the first deputy head of the Gazprom department, Andrey Dmitriev. Previously, Paliy was the First Deputy General Director of Gazenergoset.
What is so important about the deal?
This is one of the first public transactions in Russia, when a non-target fund, previously engaged in the oil business, acts as an investor in a gaming company.
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