Sections

Mail.Ru founds Game Investment division

Up to $100m worth of funds to be made available

Mail.Ru, the Russian internet business which has expanded from its initial email service to nearly monopolise all Russian social media, has founded a wide-reaching games investment division, making a potential $100 million worth of funding available in the long term.

$10 million of that capital has already been assigned to projects, and the company says that the remit for the rest stretches from small indie teams to publishers looking for expansion funding. Strategies for the funds include royalty investments and direct M&A activity. Those who receive funding will be brought into the fold of Mail.Ru's other activities, being offered the reach of the company's publishing arm as well as exposure to the estimated 86% of Russian-speaking internet users the company reaches.

Although Mail.Ru is Russia-focused, executives make clear that the fund is intended for global investments as well as local funding. The company's portfolio of 50 games reaches over 100 million customers, with MMO revenues jumping 21.2% last year.

"Games remain one of Mail.Ru Group's top priorities," said CEO Boris Dobrodeev. "Starting games investment division is a logical next move to facilitate business development by significantly increasing the company's potential in that segment. Our new games investment division will expand Mail.Ru Group's investment platform allowing us to provide venture financing, as well as to increase our M&A activity."

More stories

Pizza Club secures $1.5m investment from My.Games

My.Games Venture Capital will help fuel the US studio's expansion and help scale its debut release, Raid Boss

By Eric Van Allen

My.Games sees Q3 revenue driven by free-to-play mobile

Company aims to have 80% of its revenue from from international markets by 2022

By Rebekah Valentine

Latest comments

Sign in to contribute

Need an account? Register now.