Mail.Ru Announces up to $100 Million for Investment Division for Games Development
Mail.Ru Group, a leading international company focused on Internet communications and entertainment services, announced today the creation of games investment division which proposes up to $100 million of potential funding for games and game developers over the long term. $ 10 million has already been allocated for the first deals. The initiative will be open to game developers, both in Russia and globally, wishing to apply for potential funding.
The division will be financing accomplished game studios and publishers that need funding for scaling, as well as young game developers. To ensure that cooperation benefits every type of partner, it will employ a variety of investment strategies, including royalty investments and M&A. After receiving investments, partners will be able to take advantage of global publishing opportunities offered by Mail.Ru Group, and leverage the company’s resources in all the key regions, including the properties of My.com.
“Games remain one of Mail.Ru Group’s top priorities. Starting games investment division is a logical next move to facilitate business development by significantly increasing the company’s potential in that segment. Our new games investment division will expand Mail.Ru Group’s investment platform allowing us to provide venture financing, as well as to increase our M&A activity,” says Boris Dobrodeev, CEO (Russia) of Mail.Ru Group.
“With this new division, we aim to discover and develop promising games on the global market, and drive international expansion of the local products. Not only will it offer financing to the teams, it will also help them develop their businesses, particularly by providing access to Mail.Ru Group’s internal resources and services. The companies will be able to get all-round support, leverage our software solutions, extensive analytics and unique marketing opportunities on a global scale,” said Ilya Karpinsky, Director of Games Investment Division, Mail.Ru Group .
Mail.Ru Group's Games Business Unit is the leader in the Eastern European online entertainment market, and the largest Russian developer of mobile and massively multiplayer online games in Russian and the global market. The company’s portfolio includes more than 50 games with the total audience of more than 100 million users all over the world. In FY 2016 on a pro forma basis the company’s MMO games revenue grew 21.2% Y-o-Y to RUR 11,390 million.
Additional information and the application form are available at gamesventures.my.com.
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