The Games Fund, GEM Capital and GDEV top international gaming investment lists

07:16 - 30 October 2024

Companies Reporter

Based in Cyprus and active on the local gaming scene, venture capital (VC) firms The Games Fund and GEM Capital have taken the first and third spot on an international list of gaming investors.

Also, Limassol-based international gaming and entertainment GDEV fourth place on the same report’s list of Public market valuations.

More specifically, according to global tech investment bank Drake Star’s ‘Global Gaming Report Q3 2024,’ the two companies featured in the section on ‘Most active investors,’ in the ‘Seed focused Gaming VC Funds’ subcategory of the ‘Top investors by LTM (last twelve months) deal count.’

The Games Fund, which also has offices in the US, was at the top of the list with 10 deals. Among the select investments listed by Drake Star were ones with Obelisk Studio and Roar Games.

GEM Capital was in third place in the same category with eight deals including, as pointed out by Drake Star’s report, one with AppMagic and Eschatology.

Meanwhile, GDEV took fourth place in the North America/Europe – Mobile Focused’ section of the ‘Online/mobile game developers & publishers’ subcategory of the Report’s list on ‘Public market valuations.’ The company’s MCAP was $443.8. This was behind third-placed Modern Times Group of Sweden with an MCAP of $932.4, Israel’s Playtika with an MCAP of $2,946.1 and, in first place, the USA’s Light & Wonder with an MCAP of $8,040.9. GDEV was ahead, among many others, of Sweden’s Stillfront Group in fifth place and an MCAP of $308.2 and the USA’s Huuuge with an MCAP of $264.4, taking sixth place.

Click here to view the report in full.

Also read: The Games Fund leads $2.5M Seed Round for France-based Drama Studios

Also read: The Games Fund invests US$3 million in newly-founded Cyprus-based mobile game company

Also read: The Games Fund and GEM Capital rank among InvestGame’s Most Active Gaming VC Funds

Also read: GEM Capital invests $2.5m in AppMagic

Also read: Gem Capital invests $5m in Weappy, VEA Games and Game Garden

Also read: GDEV: $46m profit in 2023 - up from $7m a year earlier

The Games Fund, GEM Capital and GDEV top international gaming investment lists

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