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Russian internet giant opens $100M games investment division

Russian internet giant opens $100M games investment division

April 25, 2017 | By Chris Kerr

April 25, 2017 | By Chris Kerr
More: Business/Marketing

Russian internet giant has established a $100 million investment division to dish out funds to "accomplished" game studios and publishers, as well as young developers. 

The company is keen to make a big splash in the games industry, and says the new wing has been established to support and develop promising companies and projects across the globe. 

Developers can apply for funding right now, with a quick glance at the applications page revealing is open to financing whole companies or individual game projects. 

Along with the promised cash injection, successful applicants will also receive help in other areas such as marketing, publishing, analytics, and project management. 

"We at Mail.Ru Games Ventures are eager to lend our resources to like-minded professionals who are ready to change the face of the game industry and fully realize the potential of one of the most promising segments of the modern digital entertainment market," reads a statement on the website

Hammering home that point, company CEO Boris Dobrodeev says breaking into the games industry is now a "top priority."

"Starting games investment division is a logical next move to facilitate business development by significantly increasing the company’s potential in that segment," said the Russian boss.

"Our new games investment division will expand Mail.Ru Group’s investment platform allowing us to provide venture financing, as well as to increase our M&A activity."

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