Video Game Investment Fund Offering $50 Million to Developers
The video game industry has reached unprecedented levels of success and has amassed significant financial gains 0ver the past couple of years. TiMi Studios, one of the world's largest game developers, gained about 10 billion dollars in revenue from 2020 alone.
And the success of the video game industry does not stop there. After witnessing the growth of the video game market, a group of game industry investors and creators have launched a new $50 million fund to back new game developers seeking investments titled "The Games Fund." Not only that, but The Games Fund also intends to help these developers have access to other publishing and development industry professionals to share their knowledge.
The managers behind the fund consist of Sergey Titov, Alexander Byhovskiy, Maria Kochmola, and Ilya Eremeev, who all have had years of experience in different investment firms throughout Russia. Together, they will all be looking for video game studios based in the US and Europe with the intention of providing anywhere between $2 and $5 million each to individual studios.
Originally, the group's goal was to raise about $30 million in funding, but due to support from investors, it was able to raise up to $50 million. As part of a public statement from the company, Kochmola said the Fund still has some room to keep growing but is expecting to stop fundraising at the end of the summer. Kochmola said the reasoning behind all this is that video games have come to be the largest market in mainstream media, reaching explosive growth over the past year with no expectation of stopping.
The Games Fund Advisor Mike Vorhaus adds there are plenty of talented developers in Western Europe, but many of them lack the proper funding for indie games. The group hopes to combine a deep understanding of game development with the best possible utilization of venture capital. With the connections that The Games Fund has in the US and Europe, it hopes to grow these independent developers into global companies.
It is always good to see more help given to smaller game developers with passion projects they have spent their lives working on. The Games Fund has expressed on its company website that it wants to help the indie developers as much as they need while also keeping their original creative vision intact. Considering how much of a nightmare publisher interference can be on creators, it is great that the group is aware of the importance of creative freedom and just wants to create lovable products.
Source: The Games Fund
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