GEM Capital has exited The Games Fund

07:20 - 06 November 2023

Companies

Paphos-based GEM Capital Investment Group has sold its stake in The Games Fund to the fund's managing partners Ilya Yeremeyev and Maria Kochmola.

The exact sum of the deal has not yet been disclosed. The heads of The Games Fund have now gained full control over the fund. Ilya Karpinsky, one of the general partners of the foundation, has also become more involved in its activities.

As Yeremeyev said on social networks, The Games Fund itself turned to GEM Capital and offered to buy out the stake.

"At the dawn of the formation of The Games Fund, GEM Capital provided us with vital support and provided the initial capital needed to launch the fund. She has always been with us, invested in the development of companies from our portfolio and was a reliable partner. GEM Capital are professionals," Yeremeyev wrote. "Gradually, The Games Fund has turned into a globally recognised leading gaming venture fund with a clear identity, a strong position and a clear strategy. We are ready for the next chapter, it's time for structural changes."

Kirill Gurskiy, the Managing Director of GEM Capital, said: “We started it together back in 2021 and now it’s time to move on. This was another successful investment by GEM Capital, not only because of good exit deal, but also because of the positive impact on the industry, as a large number of talented developers were provided with capital to be able to bring their projects to life.”

The Games Fund and GEM Capital will continue to cooperate and invest in gaming companies together, they said.

GEM Capital has exited The Games Fund

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