The Games Fund is a new early—stage venture fund that specializes in investing in game developers from Eastern Europe. It was founded by people from MGVC, Riot Games and GEM Capital, and its size will be $ 50 million.The Games Fund notes that the size of the investment depends on the round of portfolio companies.

At the pre-sowing stage and in round “A”, companies will be able to count on investments of up to $2 million. At later stages, the amount can reach $5 million.

Several game studios have already received investments, but their names are not disclosed. One of the fund’s goals is to provide Eastern European developers with access to global capital.

The Games Fund is officially registered in the USA by veterans of the gaming industry, including former top managers of MGVC, GEM Capital, as well as Sergey Titov, former technical director of Riot Games. The fund’s managing partners are Ilya Eremeev, who worked at Game Insight, MGVC and Sperasoft, and Maria Kochmola, former MGVC Investment Director.

“Initially, we planned to raise a fund of $30 million, but we underestimated the interest of investors in the gaming industry and significantly exceeded our goal. Now we are close to collecting $50 million and are still ready to accept new investors, but we plan to close the fundraising by the end of summer,” Kochmola notes.

Among the investors of The Games Fund is the co—founder Lev Leviev, as well as the founders of Deus Craft and Aream. The fund’s team of advisors has already been joined by Viktor Orlovsky, founder Managing Partner of Fort Ross Ventures, Igor Ryabenky, founder of Altair Capital, Mike Vorhaus, founder of Vorhaus Advisors, and Ilya Karpinsky, Director of Strategic Development of MY.GAMES.