Concept Ventures announced today that it's launched a $60 million (£50 million) pre-seed fund known as The Fund.
Backed by the British Business Bank, the fund is one of the few pre-seed investments in the UK dedicated to gaming.
The Fund will also include a $36 million (£30 million) commitment from the British Business Bank's Enterprise Capital Funds program
Concept said over the next four years The Fund will invest in over 60 start-ups in the UK, with each receiving an investment ranging from £100k ($120,000) up to £600k ($723,000).
"There is a major gap in the pre-seed ecosystem, with too few funds offering dedicated pre-seed expertise," said Concept general partner Reece Chowdhry.
"We are completely focused on this critical stage of a company's life cycle and are able to provide the funding, expertise and network they need to succeed."
Established in 2018 and formerly known as RLC Ventures, Concept has invested in various companies such as Pocket Burger, Labworks.io, and Included Games.