Investor Profile: The Games Fund — Thesis, Cheque Size & How to Apply

Thesis

The Games Fund (TGF) is an early-stage venture fund dedicated to video games, founded in April 2021 by industry veterans and creators. Based in New York, Los Angeles and Cyprus, it targets US and European game companies, with particular access to Central and Eastern European talent. Its argument: games are the largest entertainment market, yet few generalist investors understand how games are made or monetised.

Sectors and stages

TGF invests in early-stage gaming startups: mobile and PC or console developers, and game-tech companies building tools, services and platforms that make developers' lives easier and players' experiences better. It explicitly does not invest in blockchain games, real-money gambling or adult games, a boundary that sets it apart from many games-adjacent crypto funds. Its sweet spot is seed and early-stage rounds for teams with a playable product or a proven industry track record.

It bridges the US and Europe, giving portfolio companies access to Eastern European talent and publishers.

Fund size and cheque size

The Games Fund launched targeting a $30 million first fund and reported within months that it was close to $50 million and still fundraising, with backing from games founders and investors including the founders of Plarium and the founder of VK.com. Total assets under management and a standard cheque size are not publicly disclosed; tickets are set deal by deal.

Notable portfolio

Its portfolio includes Hypemasters, bringing an authentic Second World War real-time strategy experience to mobile, Purple Games, a seasoned team in the puzzle-adventure genre, and Järvi, reinventing the multiplayer action sandbox on mobile. Others include KEK Entertainment, Eschatology Entertainment (AAA, founded by Valve and Wargaming veterans), Drama Studio (Unrecord), Red Rover Interactive and Holmgard Games. TGF was named the most active early-stage VC in gaming in 2024.

Partners and team

The fund was founded by Maria Kochmola, one of the few women fund managers in the games market, and Ilya Eremeev, who previously created games at Game Insight and Sperasoft and led investments in 10 gaming companies for MGVC. Advisers include Mike Vorhaus, chief executive of Vorhaus Advisors, and backers include international games founders and investors. Its partners have shipped games and invested in studios before.

Programs, credits and perks

TGF does not run an accelerator with a published curriculum or a standard credits package. Its flagship community event is the Annual Summit, a two-day gathering in Limassol, Cyprus, which in 2024 brought together more than 200 founders, investors and executives from over 90 gaming companies. Portfolio support centres on introductions to publishers, platforms, co-investors and talent.

How to apply for funding

Founders can reach TGF through its website at gamesfund.vc, which sets out what it funds and what it excludes, and learning how to get funding from The Games Fund starts with showing a playable game or a team with shipped titles, not just an idea document. The pitch should explain the genre, the audience, the monetisation model and why this team can finish and market the game. There is no published application form or fixed deadline, so outreach is direct, and a warm introduction from a portfolio founder or games-industry investor will usually travel further than a cold email.