The Games Fund adds $17M to its game investment war chest

Find out how studios and developers of all sizes can grow their titles in one the fastest-growing markets worldwide.All Transform 2021 sessions are available for immediate download. You can watch the video now.Thanks to new support from Scopely and Com2Us, the Games Fund has received $17 million more funding for its game investment warches.The Games Fund launched in April. It quickly exceeded its initial target of $30 millions. Although the Moscow and Los Angeles venture company is still fundraising, it has already announced four investments. It expects to close the fundraising at 50 million this fall in order to continue investments.Maria Kochmola and Ilya Eremeev founded the firm. Both had previously worked together at Mail.rus My.Games division which launched a game fund called MGVC. Kochmola was the investment manager at MGVC from its inception in 2017. She managed more than 35 investments. Six companies were purchased.Image credit: The Games FundIn an interview with GamesBeat, Ilya Eremeev, cofounder, stated that more than 5,000 games companies exist in Eastern Europe. Many of these companies are on the top charts.Webinar Three of the most respected investment professionals discuss how to fund your videogame. Watch On DemandKochmola stated in an earlier interview that she believes 70% will go to mobile platforms. However, the company can also co-invest in console and PC game developers. Kochmola stated that the fund will not invest in gambling, adult games, or games targeted at children.Image credit: The Games FundKochmola stated that 60% of investment would likely be made in Eastern Europe and Russia and possibly 40% in the U.S.Kyu Lee, president and chief revenue officer at Gamevil Com2Us USA stated in a statement that he has seen a lot talent in Eastern Europe, and that this investment could accelerate the region's growth in gaming. Scopely's chief revenue officer Tim OBrien stated in a statement that the Games Fund has a deep and sophisticated understanding of Eastern Europe's exceptional talent, which allows Scopely further connections with some of the most innovative game studios in the region.