ALL THE LATEST NEWS ABOUT THE BUSINESS OF PC GAMES

News

Crytek vets launch GameGroove accelerator fund with $6m to spend a year

Crytek vets launch GameGroove accelerator fund with $6m to spend a year

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.

Publisher My.Games recently revealed that Warface boasted 80m users one year after it launched on PlayStation 4 and Xbox One

Incidentally, GameGroove Capital and Blackwood Games ran an event called GameGroove Mastermind in Kiev yesterday.


Editor - PC Games Insider

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he was hired to launch PCGamesInsider.biz for Steel Media before departing the firm in October 2019.

He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies