The Games Fund
Venture capitalLimassol · Pre-Seed–Series B · 9 people tracked
Find your way into The Games Fund
1,217 people in our graph share verified history with the The Games Fund team — schools, employers, funds. One of them is your warm intro.
Investment thesis
The Games Fund backs early-stage founders in the video game industry, including game developers and gaming technology and service companies. Founded by industry veterans who have collectively managed over $300m and launched top-grossing games, the fund positions itself as a hands-on partner that moves fast, invests early, and supports founders without interfering with their vision. It emphasizes deep operational understanding of how games and the games business work, offering not only capital but also experience and connections to help companies grow.
Source: firm website, verified Sep 20, 2026.
Team · 9 people
from the firm's website & curated & public directories
What they invest in
from 18 of 34 portfolio companiesGaming ×17Consumer ×3Media & Entertainment ×2AI & Machine Learning ×1B2B Marketplaces ×1Creator Economy ×1Developer Tools ×1EdTech ×1
HQs:United States×6Cyprus×4Poland×2United Arab Emirates×1Finland×1Norway×1
Who they back
founder profiles across 10 portfolio companiesFounding team size:solo founder×62 founders×4
Where their founders worked beforefrom 10 founders with career history
Pixonic ×2
Investments · 34 tracked
founders shown can be your intro pathBy year:2024 · 52023 · 32022 · 32021 · 42020 · 116 dated
Eschatology Entertainment is a game development studio building "Guns of Eschaton," a Souls-like first-person shooter set in an apocalyptic Western world with occult horror themes, playable solo or in co-op.
GamingNicosia, CY
Co-investorsGEM CapitalKrafton
Eschatology Entertainment is a Cyprus-based video game developer founded in 2022, building hardcore narrative-driven games set in an original apocalyptic game world.
GamingNicosia, CY
Fuad Kuliev-Smirnov(Founder)in
Co-investorsGEM CapitalKrafton
Playgama is a gaming platform that hosts browser-based games and also distributes titles on Steam for PC players seeking longer gaming sessions and native performance.
B2B MarketplacesDeveloper ToolsGamingMedia & EntertainmentDubai, AE
VyacheslavDmitry Kachmar(Founder)in
Co-investorsFJ LabsThe Open PlatformVelo Partners
Spektra Games is a mobile game developer and publisher that handles development and publishing in-house, focused on racing and simulation titles such as Parking Master Multiplayer 2 and Highway Racer Pro.
ConsumerGamingNew York, US
Kadir Danisman(Founder)inPrince Boakye Boampong(Executive Officer, Director)Roel Janssen(Director)
Co-investorsAPY Ventures
Dark Passenger is a Warsaw-based indie game studio, formed by developers who previously worked on titles such as The Witcher 3 and Cyberpunk 2077 and operated the studio RealTime Warriors.
GamingWarsaw, PL
The Games Fund (TGF) is an early-stage venture capital firm founded by video game industry veterans that invests in game developers, gaming technologies, and services.
GamingNew York, US
Ilia Eremeev(Founder)in
Hypemasters is a game development studio that builds free-to-play strategy games, including World War Armies (WWA), for global players across PC and mobile.
GamingDover, US
Boris Kalmykov(Co-founder & CEO)inEkaterina Bazhanova(Co-founder & Strategy Director)
Co-investorsGEM CapitalImpact46Ludus
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A game development studio that describes its workplace values around inclusion, flexibility, community, and play.
Gaming
Jarvi Games is developing Flex City, a massively multiplayer online open-world game centered on social interaction, where players explore, communicate, and take on roles such as laborer, businessman, taxi driver, or racer.
Gaming
Co-investorsPlay Ventures
Juicy Buttons is a game studio that develops video games centered on original ideas and interactive experiences.
GamingLimassol, CY
Cyprus-based game studio founded by ex-Pixonic executives building a cross-platform multiplayer mecha shooter.
Georgy Egorov(Founder)inOleg Poroshin(Founder)in
Co-investorsPlay Ventures
Layer is a creative automation platform that uses AI to help game studios scale production across the asset creation lifecycle.
AI & Machine LearningCreator EconomyGamingMarketing TechSan Francisco, US
Volkan Gurel(Co-founder & CEO)inBurcu Hakguder(Co-founder & CRO)in
Co-investors500 Emerging EuropeHummingbird VenturesLaton VenturesNew Enterprise Associates (NEA)
Obelisk Studio is an outsourcing unit and game studio that produces assets for games, film, and cinematics, including high-fidelity props and realistic characters.
GamingMedia & Entertainment
Order of Meta is a game development studio made up of professional game creators focused on mid-core and hardcore genres.
GamingEspoo, FI
Alexey Kuzin(Founder)
Co-investorsCrit VenturesPlay Ventures
PlayPack is a game studio building social, cross-platform casual free-to-play mobile games.
Hendrik Demmer(Founder)in
Co-investorsPlay Ventures
Red Rover provides cloud-based HR and employee management software for K-12 school districts, including tools for absence management, time tracking, and hiring.
EdTechHR TechSaaS
MikeDani
Co-investorsBrighton Park CapitalTechstarsAcequia Capital (AceCap)Behold VenturesGEM CapitalLifelike Capital
Red Rover Interactive is a game development studio that builds multiplayer survival experiences focused on player agency, social interaction, and emergent gameplay.
GamingOslo, NO
Co-investorsAcequia Capital (AceCap)Behold VenturesLifelike CapitalTIRTA VenturesGEM CapitalKrafton
Starkit Studio is a mobile game development studio that builds titles including Dragons World, Breaking Bad and Narcos-themed strategy games.
ConsumerGamingDover, US
Video game development studio based in Rennes, France, working on a viral ultra-realistic single-player game.
Vandrouka Games is a mobile game studio that develops casual games, including "Merge Islanders", a free-to-play merge-2 game with island exploration and story elements.
ConsumerGamingLimassol, CY
Vadim Komkov(Founder)in
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
AY GamesDisplacementDRAMA StudiosHolmgard GamesJärviLayer AIMade on Earth GamesPurple GamesRoar GamesTenet of the Spark
Portfolio news
latest coverage across their companies
Red Rover · markets.businessinsider.com · Aug 4, 2026
Red Rover Interactive · gamesindustry.biz · Jul 10, 2026
Spektra Games · lucidityinsights.com · Jun 8, 2026
Hypemasters · respawn.outlookindia.com · Dec 11, 2025
Frequently asked questions
- How many investments has The Games Fund made?
- The Games Fund has 34 tracked investments, including 2 dated in the last 24 months.
- What stage does The Games Fund invest at?
- The Games Fund invests at the Pre-Seed, Seed, Series A, Series B stages.
- What sectors does The Games Fund focus on?
- The Games Fund focuses on AI & Machine Learning, Gaming, Impact & Social Good, Media & Entertainment, SaaS.
- Where is The Games Fund located?
- The Games Fund is headquartered in Limassol, CY.
- Does The Games Fund lead rounds?
- The Games Fund typically participates in rounds rather than leading them.
- Who does The Games Fund co-invest with?
- The Games Fund most often shares deals with Play Ventures, Crit Ventures, Hummingbird Ventures, among 10 tracked co-investors.
- What size deals does The Games Fund back?
- Across 9 deals with disclosed amounts, The Games Fund has joined rounds of $1M – $15M (median $3M).
Images
Co-investors · 2
Breakpoint Capital is a seed-stage venture firm that invests from company inception through Series A, pairing capital with hands-on operational support as company builders.
Plug and Play is an innovation platform that connects corporations, governments, startups, investors, and universities to drive innovation.
Firms observed investing alongside The Games Fund, from public investor directories. Shared companies are the overlap with The Games Fund's recorded portfolio.
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