Akin Babayigit and Makers Fund launch AMF Capital with $28m UA financing for Bear Hug

• AMF Capital will be led by MD Andrew Seow.
• Rewarded games network Bear Hug Entertainment has paid out over $500,000 in prizes to players to date.

Arcadia Gaming Partners MD Akin Babayigit has partnered with Makers Fund to launch a new UA financing fund called AMF Capital, PocketGamer.biz can reveal.

The fund is led by MD Andrew Seow, a Makers Fund investor and ex-director of monetisation at Tripledot Studios. AMF Capital is said to be “fully independent” of Arcadia and Makers Fund.

The partnership brings together two of the largest investors in the games sector. 

Debut deal

AMF Capital’s first deal is with rewarded games network Bear Hug Entertainment, which will receive up to $28 million in UA financing.

The company has a portfolio of games including its own twists on Mahjong, Solitaire and Blocks, and has paid out over $500,000 in prizes to date.

AMF Capital has also signed several other agreements with companies that will be announced soon.

Independent fund

“While early stage equity investment remains important for building, testing and finding scalable products, user acquisition financing is an effective way for founders to scale revenue,” said Babayigit.

“We have seen founders in the Arcadia and Makers portfolios increasingly rely on UA financing to scale. We felt we wanted to offer an alternative for founders, so we partnered to create a new fund, fully independent of Arcadia and Makers, pairing our hands-on experience of pushing monetisation boundaries with the decade-plus experience of working with mobile studios globally.”

Seow commented: “We've spent years as operators scaling mobile games from the inside, and as investors backing the studios doing it. AMF Capital is how we put that deep experience to work - capital plus the kind of hands-on support that moves the needle.”

Bear Hug Entertainment CEO and founder Mark Rose added: "We're excited to be working closely with AMF Capital. With several of our games scaling well, we had a number of options available to us to finance growth. 

“AMF were not only the most experienced and knowledgeable to work with - the process to agree terms and begin deployment has been very straightforward and enjoyable."