The ex-CEO of PlayStation Jack Tretton (pictured) and the chief of Ark: Survival Evolved firm Studio Wildcard Doug Kennedy have launched a brand new investment firm for indie developers.
Dubbed Interactive Gaming Ventures, the company plans to invest in two or three indie projects each year over the next seven years. Each investment will be between $1m and $5m, varying per project.
Those figures point to the top end of the indie development scale, so it's likely these are going to be more mid-tier/triple-I/indie-A/your buzz word of choice titles.
Funding can be going to the likes of project funding, development support, marketing, PR, distribution, publisher relations, mergers and acquisitions, community, brand management and general operations.
“Traditional private equity and venture firms appreciate the $100bn size of the gaming industry, but most lack the understanding and the comfort level to invest in it,” said Tretton.
“We provide these studios structure, cash infusion, and use our relationships to ensure that they are getting an appropriate share of voice from first parties backed by investors that know the industry and seek the outstanding financial returns that a well run publisher can provide.”