GXC Launches a New Venture Fund to Invest in Early-Stage Game Startups
The new venture fund of over $40 million will invest in "promising video game developers" and other game-related companies to help them facilitate their growth.
Global games solution company Game X Companies (GXC) has announced that it is launching Round Ventures, a new venture fund of over $40 million, that will be focused on investing in early-stage game startups.
According to the company, the fund will be used for investing in "promising video game developers" as well as video game-related companies to help them facilitate their growth and well as support developers in delivering high-quality content and services.
GXC says that Round Ventures plans to invest from $2 to $8 million in each company with co-investors valued
between $10 and $50 million.
Round Ventures plans to hold two annual investment funds in Asia and Europe, starting with Round Ventures Select Asia, the fund's first investment summit that will take place in Jeju, South Korea in November. At the summit, the fund will be inviting 10-15 video game companies to showcase their games and services in front of the Round Ventures team and other investors as well as media representatives and influencers.
GXC noted that companies who wish to participate in funding should either already be generating revenue with their current project or "should have momentum" around their projects, in case it is the first project a company is working on.
"We believe the video games industry is in need of a system where early stage companies receive both growth and guidance on how to execute their projects successfully,” Round Ventures' General Partner Rick Nahm said. "With this in mind, we’re investing in the brilliant minds behind the projects. We deeply value the potential of developers and innovators in the games industry and will be actively looking to help them flourish."
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