Modern Times Group invests in new VC fund Play Ventures

first_imgModern Times Group invests in new VC fund Play VenturesThis is the Swedish company’s 11th investment since November 2017Matthew HandrahanEditor-in-ChiefTuesday 4th December 2018Share this article Recommend Tweet ShareModern Times Group has invested in the Play Ventures VC fund, its 11th investment in the space of just over a year.Play Ventures, one of a handful of funds in which Modern Times Group has invested, was started by Rocket Pack co-founder Harri Manninen and Nonstop Games co-founder Henric Suuronen. MTG will be a limited partner in Play Ventures.MTG announced its own fund in November 2017, with a view to taking minority investments in between five and ten companies each year. Including Play Ventures, it has now made 11 investments since then.Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games “This fund makes MTG one the most active investors in the gaming sector, with one of the broadest portfolios of content, tools and live experiences,” said MTG’s managing director for the US, Scott Rupp. “Through our rich history in multi-platform storytelling and our unique family of games and esports companies, we can offer entrepreneurs much more than just capital to help them thrive.”The MTG portfolio also includes the esports startup fund Bitkraft, the location-based VR firm Nomadic, and Dauntless developer Phoenix Labs. The company will be seeking another ten startups in which to invest in 2019.Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Daily Update and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesCEO says Paradox “can do better” as Q1 profits plummet”We are not satisfied with the quarter,” CEO Ebba Ljungerud saidBy Marie Dealessandri 13 hours agoStarbreeze’s Q1 losses shrink 95% to $505,000New CEO Tobias Sjögren says “the road ahead is clear” as Payday 3 is fully funded By James Batchelor 13 hours agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more