The Games Fund relocates to Miami and will continue funding Eastern European game studios
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Ilya Eremeev and Maria Kochmola, two of the cofounders of The Games Fund, had to make some fast decisions in February when Russia invaded Ukraine. They were based in Moscow, and they decided to move out of the country.
They made it out of Russia with some difficulty and bounced from country to country. They made their way to the United States and settled in Miami, where they have set up a new base for their game-focused venture capital fund. The Games Fund is still making investments in Eastern Europe, which has thousands of game studios. But they have also pivoted to making investments in Western game companies. In fact, 70% of their deal flow now comes from the West.
And fortunately for The Games Fund, the fund’s money isn’t subject to sanctions because the vast majority of the money for the fund came from the West and Asia, said Eremeev and Kochmola, in an interview with GamesBeat. They are both managing partners of the fund, which is registered in the U.S.
“There are a lot of changes before us, but at least for now, it’s clear how to navigate the storm,” Eremeev said.
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At the moment, U.S. companies (and those in many other countries) are not allowed to invest in any company in Russia. Any people who live in Russia are not allowed to get investments from U.S. entities now or receive money transfers.
The Games Fund invested in 11 portfolio
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