Smartphone maker ROKit has launched a $50 million fund to support independent developers of both mobile and console games.
ROKiT will act as both an angel and gap investor in return for equity. The company is encouraging devs to come up with and present a business plan. Successful applicants can secure up to $500,000 to aid in their game development.
To help determine those who are worthy of investment, ROKiT has created a selection committee. Comprised of games industry developers and leaders, it will set up a series of pitchfests, meet developers and select the most relevant or outstanding games to invest in.
ROKiT founders Johnathan Kendrick and John-Paul Dejoria started the fund, the men who founded ROKiT are looking to help foster emerging talent in the games industry. It has already been used to back UK-based company Ddraig House Games Studio, creator of Lunafone.
Jeremie Benhamou, a veteran of the industry, having worked on Assassin’s Creed and Rainbow Six, will lead the investment fund.
“I have always been interested in the gaming industry,” said Kendrick. “With these investments we can really help some exciting talent bring their games to life and find the next great game”.
In addition to providing financial support. ROKiT has stated that it can provide a platform for mobile games developers on its smartphones, which will be uploaded onto the handsets and be promoted through ROKiT’s content network.