Good news fellow Game Treps’!
There is a new investment firm forming that specializes for game studio business, simply known as Interactive Gaming Ventures. This new group is founded by industry veteran and former CEO of Sony Computer Entertainment America, Jack Tretton as well as the CEO of Studio Wildcard, Doug Kennedy. Studio Wildcard is best known for Ark: Survival Evolved and Doug Kennedy has been involved in the success of Guitar Hero, Rock Band and PUBG though PR firm Reverb Communications which he co-founded.
So where did this start? Jack Tretton had run his own consulting firm and came to the realization that despite the rich talent pool of creative independent developers, many face challenges getting financial support for their projects and lack the long term experience of providing go to market solutions and corporate relationships to maximize their success.
This is a story we know all too well from our own experiences participating in incubators, writing publisher proposals, raising grant funding and seeking angel investors. Most of which along the way in the private funding world include investors who may not be too familiar with the mammoth industry that gaming is or take it seriously an industry for whatever reasons.
To that point, Jack Tretton made shared his knowledge that “Traditional private equity and venture firms appreciate the 100 billion dollar size of the gaming industry, but most lack the understanding and the comfort level to invest in it. We provide these studios structure, cash infusion, and use our relationships to ensure that they are getting an appropriate share of voice from first parties backed by investors that know the industry and seek the outstanding financial returns that a well run publisher can provide.”
Interactive Gaming Ventures will look to provide 2-3 game studios a year that demonstrate value to focus on development while they provide the studio with project funding, development support, marketing, public relations, distribution and more you can hope from any amazing venture group or publisher.
So, what does this mean? You have another potential opportunity to get your business in order, get your game playable and work on your audience to raise funding to take your game to the next level.
We recommend bookmarking their site (and ours) to find out when submissions or requirements are open to place your life’s work in the ring to really improve your game and go to market.
Visit www.interactivegamingventures.com or check out our site for future updates!
Remember to share this information with your fellow devs because “a rising tide raises all ships” and you definitely want your buddies ship to be right there alongside yours!