Modern Times Group launches $30 million investment fund for eSports and online gaming

Modern Times Group launches $30 million investment fund for eSports and online gaming

The Modern Times Group has launched a $30 million gaming investment fund to make minority investments across the US and Europe.

The fund will specifically target online games, eSports, and gaming-focused VR and AR. MTG will invest in five to 10 companies every year over the next three years.

MTG's business focus has shifted to digital content recently, and its digital sales now account for 34% of the company's overall revenue.

Leading the way

"We are leading eSports into the global mainstream, captivating hundreds of millions of online gamers, and creating video content that generates billions of views across the world, said Jørgen Madsen Lindemann, MTG President and CEO.

"Our partnerships with content creators and distributors around the world, and the rapid growth of our digital products, clearly demonstrate the relevance of our stories and provide the basis for our long term profitable growth."

MTG acquired mobile games publisher Kongregate for $55 million back in June 2017. It also picked up a majority stake in developer InnoGames back in May 2017 in a deal worth over €130 million.

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Ric has written for for as long as he can remember, and is now Deputy Editor. He likes trains.


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