The Games Fund adds $17 million in strategic financing to support the future of games
New investors include global leaders in games such as Scopely and Com2us
Continued funding highlights rising interest in game development and technology talent across Eastern Europe
August 6, 2021 – The Games Fund (TGF), an early-stage VC fund focused on the games industry, announced today its second round of financing with $17 million raised from gaming leaders such as Scopely and Com2us.
The Games Fund was launched in April 2021 and quickly exceeded its original target of $30 million, as the games market, specifically across Central Europe, Eastern Europe and Russia, continues to be an extremely attractive sector. TGF is still fundraising but has already announced four investments and expects to close the fundraising at $50 million this fall to ensure continued investment in the future leaders in games.
Ilya Eremeev, co-founder and Managing Partner of The Games Fund shared, “There are over 5,000 games companies across Eastern Europe, many of whom consistently appear in the top charts; however, the region still lacks investment opportunities and is a ‘dark horse’ for foreign investors, especially pure venture capital without strings attached. Together with our investors, who are leading games companies and founders from around the world, we are aiming to change the opportunities provided to teams by integrating local developers into the global gaming infrastructure.”
Tim O’Brien, Chief Revenue Officer at Scopely added,
“The Games Fund team has a deep, sophisticated understanding of the exceptional talent across Eastern Europe, which allows Scopely to further connect with some of the most creative game studios across the region. The games market is more active and innovative than ever before, and we are excited to partner with TGF to provide capital resources to support game makers and help shape the next horizon of games.”
Kyu Lee, President of GAMEVIL COM2US USA, Inc. concluded, “Com2uS has been in the mobile games business for 20 years, and we’ve been actively investing into the gaming and entertainment ecosystem globally. Just like how leading companies have sprung out of Asia, we’ve noticed a great volume of tremendous talent in the Eastern European region, and believe we could contribute to and accelerate the growth through our participation in investing into the TGF fund.”
About The Games Fund (TGF)
Video games are the entertainment of choice for billions of people worldwide. It is an exploding market, but it can be challenging to go alone. TGF is here to support and advise game developers across Central Europe, Eastern Europe, and Russia to ensure they can build great companies from the ground up. We believe in founders who dream big to create beloved products and know from experience that passion combined with proper resources leads to results. We love video games both as players and as professionals and expect the same from our partners. Our partners are leading games companies and founders from around the world who share our vision of supporting and integrating local European developers into the global gaming ecosystem. To learn more about TGF visit: https://gamesfund.vc/.