For the Record: Wargaming to Support Game Developers
Source: http://www.charter97.org/ru/news/2014/7/20/107708/ Special thanks to Maiorboltach for linking it on RU LJ community Hello everyone, according to the article linked above, the London Venture Partners company along with Wargaming, Zynga and Nexon companies, agreed to create a special Seed fund to finance new game development (specifically for European game developers). LVP is no newbie on the gaming market, having financed previously the projects such as Supercell, NaturalMotion, Playfish, and Applifier, through which LVP made over 4 billion USD in last 5 years. Via this fund, third party game project startups will be financed – in the initial stage, 20-25 projects will be supported, each by a sum between 50k and 500k USD – the developers of these projects must come from the European region including Russia. Russian gaming market is estimated to grow this year by 13,3 percent, making it world’s 12th largest gaming market with its 1,14 billion USD volume. Wargaming is involved in this fund via its Cyprus office according to the company representative Artur Protopopov. He states however that he expects the fund to invest mostly European and not Russian projects, as the Russian developers will have a hard time proving themselves since the investing environment in Russia is unfavourable. At the same time, it is pointed out that the creation of this fund proves that the gaming market is growing and perspective field. The focus on Europe comes from the fact that Silicon Valley is “overheated” and the investors turn their attention specifically towards European market.