Behold Ventures secures $59.2 million to aid European developers

Behold Ventures, a Swedish venture capital company, has secured $59.2 million to support European game developers.

According to GamesBeat, since its inception in 2021, the firm has allocated $21 million across 18 gaming studios. While three of these are based in the UK, the others are located in the Nordic countries.

Karl Magnus Troedsson, the founder and managing partner, noted that 54% of their financial resources originate from Europe, 44% from Asia, and 2% from the United States.

Investors are primarily strategic, making up 43%, followed by institutional investors at 42%. The remainder includes family offices, affluent individuals, and funds-in-funds at 10%, with general partners comprising 5%.

The firm aims to invest in over 25 emerging companies in the Nordic area, concentrating on gaming development, technological solutions, and tools.

Among its investments are Dead Astronauts, Seven Stars, and Red Rover. It also contributed to a $7 million funding for Blue Scarab Entertainment set for 2024.

Troedsson remarked on the current climate of investment in game developers, citing concerns about perceived risks. He observed: "Investing in equity is currently not favored. We're hearing that some are shifting towards project financing as an alternative."

He further added, "We haven't yet identified the next major growth opportunity in our sector. Our belief is that video games are the defining medium of this century, offering possibilities for entertainment, education, and connection."

"Any current financial challenges within the gaming sector are likely temporary. We expect to adapt to these new circumstances, should they become the norm," he concluded.