New Israeli investment fund VGames to focus on game studios

TEL AVIV: VGames on Wednesday launched the first games-focused investment fund in Israel, with commitments of over US$30 million and a target to raise US$40 million.

The fund, which will invest mostly in early-stage game studios in Israel and Eastern Europe, was founded by Eitan Reisel, formerly head of Google Games in Tel Aviv.Israel and Eastern Europe have become important sources for game studios, with 2020 projected revenue of over US$4 billion in Israel and US$5 billion in Eastern Europe, the company said.

Israel is home to game developers such as Playtika and Plarium while Eastern Europe has thousands of studios such as Huuuge Games, Ten Square Games, Nordeus and Vizor. The fund has invested in four game studios, including InnPlay Labs and Brain Games, and plans to invest in another 15-20. The fund's anchor investor is Israeli venture capital fund Viola Ventures.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chinese mutual fund industry sees jump in new funds and inflowsChina's mutual fund industry saw another massive jump in new products and subscriptions in June, suggesting the swift rally in mainland stocks has ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Google backs Reliance's Jio Platforms with US$4.5 billion India investmentReliance Industries on Wednesday said Alphabet Inc's Google will buy a 7.7per cent stake in its digital unit for US$4.5 billion, winning the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »