Former employees of Crytek have set up a new accelerator fund for startups called GameGroove Capital.
As reported by GamesIndustry.biz, the organisation is headed up by the ex-CEO of Crytek's Kiev studio Alexander Zoll and will be investing $6m each year in up-and-coming games organisations.
The firm is apparently looking to invest in 20 projects per year, so that works out at an average investment of $300,000 for each startup.
Zoll was one of the Crytek Kiev team working on free-to-play shooter Warface who left and set up new studio Blackwood Games in February of this year. They have continued development on the aforementioned title.
Incidentally, GameGroove Capital and Blackwood Games ran an event called GameGroove Mastermind in Kiev yesterday.