Vgames raises $142 million to fuel global gaming investments
Vgames raises $142 million to fuel global gaming investments
The Israeli fund doubles down on gaming with its third and largest fund since 2020.
Vgames, the games-focused investment fund led by Eitan Reisel and Daniel Mironov, announced on Wednesday that it has raised $142 million for its third fund. Vgames has established itself as one of the most active funds in the gaming sector, having invested in 38 companies globally since its launch in March 2020. The fund maintains flexibility in its investment stages, supporting companies from early stages through to growth rounds.
In a conversation with Calcalist, Reisel, Founder and Managing Partner of vgames, highlighted the significance of the gaming industry within Israeli tech. "The gaming industry is one of the most important sectors in Israel's tech ecosystem. It is estimated to account for about 2% of Israel's gross domestic product. Approximately 14,000 people are employed in gaming companies, with around 200 registered gaming companies, alongside a vibrant community of 'indie' developers creating games independently," Reisel explained.
Notable investments include InnPlay Labs (acquired by Playtika), SuperPlay (acquired by Playtika), 1047 Games, Candivore (top ten grossing Match 3 games globally), GOAT (former founders of Plarium), Elyzio, 44 Pixels and AMP among others.
Vgames prides itself on being a specialized investment team comprising Daniel Mironov, Partner, Eitan Reisel, Founder, David Digmi, COO and Riki Papa Pnini, Director of Investor Relations and Marketing.
"I founded vgames after many years at Google, where I worked closely with companies and entrepreneurs in Israel and abroad. There were great investors in Israel, but very few funds that were actively investing, especially when compared to the scale of the opportunity in gaming. Over the past five years, together with our investors, we’ve invested approximately $200 million in equity and provided an additional $200 million in debt to companies. Among our largest portfolio companies in Israel are InnPlay Labs, SuperPlay, and Candivore," he added.
Reisel also reflected on the challenges faced during the fundraising process: "We decided to start raising this fund during a year we knew would be very challenging due to the security situation in Israel. Many funds avoided fundraising under these circumstances, but we remained persistent. Despite the difficulties, we exceeded our fundraising target, even though we received many rejections from institutions around the world due to the security concerns."
