Singapore-based early-stage games venture capital fund Play Ventures has closed its first fund at $40 million.

As reported by Tech in Asia, the figure is $10 million more than the planned $30m raise that was announced back in December 2018.

Big backers

The fund invests in pre-seed and seed-stage games start-ups around the world working on free-to-play mobile and PC projects. Backers include Rovio, Modern Times Group and Huuuge Games CEO Anton Gauffin.

Companies the fund has backed to date include Redhill Games ($11.4m), a Reworks ($1.5m) and Gamejam.