The managing partners of The Games Fund (TGF) bought GEM Capital’s stake in this fund, TGF managing partner Ilya Eremeev reported on his social network page and was confirmed by GEM Capital.
“The TGF team has acquired all of GEM Capital’s shares in The Games Fund. This will lead to an increase in the participation of Maria Kochmola and myself, managing partners of The Games Fund. <…>. We made an offer to buy out our stake and gain full control of TGF, and GEM agreed to our terms and accepted this offer,” Eremeev said.
He further added that TGF and GEM Capital will continue to act as co-investors in future transactions.
The financial conditions for the redemption of GEM Capital’s stake in TGF are not provided.
- The Games Fund specializes in investing in video game developers; the fund was launched in April 2021. TGF was founded by former top managers of My.Games Venture Capital Maria Kochmola and Ilya Eremeev, investment firm GEM Capital, and former CTO of Riot Games (creators of the popular MMORPG League of Legends) Sergey Titov. In August 2021, The Games Fund raised $17 million from international gaming companies Scopely and Com2us.
- GEM Capital participates in both private equity and venture capital investments. The company became famous after purchasing the then public Volga Gas in 2020. Currently, the main place in Gem Capital’s portfolio is occupied by assets in the field of gaming, entertainment, nanotechnology and real estate.
Author:
Anastasia Marina
Source: RB
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