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16 Jul 2014

LVP and Wargaming are searching for the Next Supercell to Fund

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London Venture Partners (LVP) recently announced that they’re starting an early stage seed fund centered on the European mobile gaming sector. This is the company’s first fund involving third party investors. The backers will consist of strategy game developer Wargaming, Asian-based F2P gaming giant Nexon, and Don Mattrick, CEO of Zynga.

The size of the fund is yet to be announced, but in an interview with TechCrunch, LVP general partner Paul Heydon disclosed that their plan is to establish roughly 20 to 25 investments of up to half a million dollars each over the funds’ time span. The estimated amounts are believed to be between $1M and $12.5M.

Looking for Another Supercell

“There’s a huge amount of creative talent that’s coming out of Europe – there always has been – but historically they haven’t had the ability to raise anywhere as much capital as in the US because there just hasn’t been capital,” said Heydon.

The firm is looking for indie studios and games with originality. “It’s really a bet on the team, commented Heydon. “Do they have the right creative vision? Do they have the right ability to execute? Do they have the ability to attract great people to come work for them?” They are also interested in mid-core style games.

“It’s passion about making games. Vision to make potentially great games. And ideally the founders have worked together in another form or fashion before. It you’ve got those things, you’ve got the basics of something potentially great… You have to be making games that have the potential to be appealing to millions and millions of users in order to have the potential to build something big.”

“Mobile is continuing to be the fastest growing category by far. Obviously the best example is Supercell which we invested in – they did almost $900 million in revenue last year … ,” added Heydon.

London Ventures Partners also has past investments in major companies such NaturalMotion, Playfish, Applifier and Unity with the firm reporting an estimated $4 billion in value over past the years.

(Source:  TechCrunch)

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