Former managers of the investment fund Mail.ru Games Ventures announced the launch of the venture capital fund The Games Fund, which will specialize in supporting young businesses in the gaming industry.

Forbes tells about the project. It is known that the founders of the fund are Maria Kochmola and Ilya Eremeev. The structure was invested by the co-founder of VKontakte and the founder of the LVL1 fund Lev Leviev, the founders of the Plarium and Deus Craft studios, and the investment bank Aream.

The volume of financial investments is $ 50 million. The target is early stage gaming startups from Eastern Europe.

«The Games Fund will invest up to $ 2 million in pre-seed and Round A startups. The fund also plans to invest up to $ 5 million in portfolio companies at later stages in syndicates with other investors. At the moment, the fund has invested $ 500 in the Belarusian mobile studio Purple Games, several more transactions are at the final stage.“, – notes Forbes.

It is estimated that there are currently over 5000 game developers in Eastern Europe. Thus, there are great investment opportunities for The Games Fund.