Games could use a good start, and today the Russians are coming. Moscow-based Internet communications firm Mail.Ru Group is announcing it has create a $ 100 million investment division to purchase games and developers. The investment amount may be the largest one from Russia to aid the game industry, and it will spend money on game companies there along with the other countries in the world.
Mail.Ru will finance “accomplished game studios and editors” who need financing for scaling along with young game developers. The unit will use a number of investment methods, including royalty investments. Which means it could spend money on specific games, funding the money upfront and getting repayments in the shape of royalties after the item ships.
“Games continue to be one of Mail.Ru Group’s top concerns. We believe that blended development in that sector provides significant possibilities, both through interior online game development and through M&A. Beginning a games investment fund will expand the potential of Mail.Ru Group’s financial investment platform,” said Boris Dobrodeev, CEO (Russia) of Mail.Ru Group, in a statement.
Mail.Ru will also offer international posting.
“With this investment, we try to find out and develop encouraging games in the global marketplace, and drive international expansion for the neighborhood services and products,” said Ilya Karpinsky, managing lover for fund, in a statement. “Not only will the fund offer funding to the groups, it will likewise help them develop their particular organizations, specifically by providing use of Mail.Ru Group’s inner sources and solutions. The businesses can get all-round support, control our software solutions, substantial analytics and unique advertising possibilities on a worldwide scale.”
Mail.Ru Group stated that its games business is the top in the east European on line entertainment marketplace and the largest Russian developer of mobile and massively multiplayer online games in Russian together with international market. The business’s profile includes above 50 games utilizing the total market of more than 100 million people all around the globe.
In fiscal year 2016, the business’s massively multiplayer online (MMO) games income expanded 21.2 % to $ 201.7 million. Mail.Ru Group could be the biggest online business in Russia, based on mobile everyday audience. The company is the owner of Russia’s leading email solution and something of Russia’s largest internet portals, Mail.Ru