News

Rovio invests $3 million in games start-up fund Play Ventures

Date Type Companies involved Size
March 28th, 2019 investment Play Ventures
Rovio
$3m
Rovio invests $3 million in games start-up fund Play Ventures

Angry Birds developer Rovio Entertainment has invested $3 million in a games start-up venture capital fund managed by Play Ventures.

Play Ventures was looking to raise $30 million to fund 20 to 25 early stage video game companies worldwide in. Rovio’s backing now means Play Ventures has reached its goal.

Five video game firms have already been selected for funding, with that finance coming from games companies and private backers.

Play Ventures was founded in 2018 by video game entrepreneurs Harri Manninen and Henric Suuronen (pictured, main).

Good seedbed

"Our investment in Play Ventures is according to our M&A and growth strategy and the fund offers a good seedbed for new game ideas and companies," said Rovio chief financial officer René Lindell.

"We regard Henric's and Harri's know-how in the industry as excellent and we believe that our investment in the fund offers Rovio many interesting possibilities."

Play Ventures founding partner Harri Manninen added: "The goal of Play Ventures is to invest globally in the world's most promising early stage gaming companies and we pursue excellent returns for our investors.

“We appreciate Rovio's investment not only financially but also as an expression of trust, and we believe that Play Ventures also helps to cultivate the industry and create even better opportunities for early stage gaming companies."


Staff Writer

Matthew Forde is the staff writer for PocketGamer.biz and also a member of the Pocket Gamer Podcast. You can find him on Twitter @Forde999 talking about Smash Bros. and everything pop culture related - particularly superheroes.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies