Online games

Playrix fully withdraws from Russia and Belarus, keeps operating in Ukraine

October 30, 2022

Playrix today announced it is fully withdrawing from Russia and Belarus, “due to the continued aggression against Ukraine and in order to maintain its operations.” The Russian-founded global mobile gaming giant will “close all the company’s offices” and “shut down all operations of its studios” in Russia and Belarus. The remaining staff will be “relocated from Russia and Belarus …

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Russian-founded gaming giant Playrix continues investment spree

February 22, 2022

Playrix, a global Russian-founded mobile gaming giant, acquired a minority stake in AppQuantum, a Cyprus-based, Russian founded mobile gaming developer and publisher. The deal took place in late 2021 but was announced only in early February.  Launched in 2017 by Evgeny Maurus, AppQuantum is behind such titles as Dragon Champions, Evil Clicker and Gold & Goblins. While claiming “dominant positions” in clicker and …

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16-year-old sentenced to five years in prison over plot to blow up virtual FSB building in video game

February 12, 2022

This Thursday, a Russian military court handed down sentences for terrorism to three teenagers from the Siberian town of Kansk. The boys were arrested in the summer of 2020 for posting leaflets with political slogans on the local FSB building. After searching their phones and uncovering a “plot” to blow up a virtual rendering of …

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Just-born games studio raises $3 million to address “the most exciting and fastest-growing entertainment niche”

November 10, 2021

Kek Entertainment, a Moscow and Cyprus-based “gaming video creator,” has attracted $3 million in pre-seed funding to develop mobile action games. This is “the largest pre-seed round ever in a gaming startup from in Russia or neighboring countries,” the participants in the deal claimed. The company started in September and is hiring. It was founded by two former …

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Russian-founded mobile game publisher launches co-investment vehicle, displays IPO goals

August 4, 2021

Earlier this month Green Grey, a Russian-founded publisher of mobile games and apps, announced the launch of NPU Games. This new casual games studio offers co-investment opportunities to back the development of casual games.  An initial capital injection of $800,000 was brought by Green Grey itself to develop a pilot project, Cook’s Voyage — a casual …

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The SPAC wave hits Russia

February 16, 2022

Could a company from Russia, or with strong connections to Russia, ever be targeted by a SPAC? The question remained open until very recently, given the small numbers of international IPOs from Russia — the latest example in the digital field being Ozon in November last year. Such a player has now emerged, with Nexters …

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New $50 million fund to invest in gaming across Eastern Europe

October 8, 2021

A new fund is emerging on the tiny Russian venture scene. With $50 million in capital, ‘The Games Fund’ is the brainchild of Maria Kochmola and Ilya Eremeev, two former executives from My Games Venture Capital (MGVC), Forbes Russia reports.  Former Riot Games CTO Sergey Titov, alongside ex-top managers from GEM Capital, are also part of the …

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Tencent backs Russian game studio to re-create robotized Soviet atmosphere

February 5, 2021

Russian game publisher Mundfish has secured a Series B funding round led by Tencent. Two existing investors — Moscow-based GEM Capital  the investment vehicle of oil industry executive Anatoliy Paliy and Gaijin Entertainment’s founder Anton Yudintsev — also took part in the deal. The amount of the capital injection was not disclosed, but industry insiders told Russian business …

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Mail.ru Group and Google launch international accelerator for video game developers

November 23, 2020

Google and My.Games, a branch of Mail.ru Group, last week announced a joint accelerator program “for promising mobile game studios and projects.” Dubbed ‘Game Drive,’ this accelerator targets studios from the EMEA region, including Western Europe, Russia and other Russian speaking countries, region, Turkey, Israel, the Middle East and Africa. The selected projects will receive an …

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Mail.Ru buying spree: My.Games invests in 3 game studios in 3 weeks

October 12, 2020

My.Games Venture Capital (MGVC), an investment firm affiliated to LSE-listed Mail.ru Group, has just acquired a majority stake in Russian game publisher Deus Craft, reports Rusbase. MGVC intends to put up to $49.1 million to acquire 51.16% of the company, including an immediate payment of $14.1 million and potential additional payments totalling $35 million, depending on the …

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New game features AI-driven Soviet-era policeman “with a precise moral compass”

September 24, 2020

‘Militsioner’ (what a policeman was called in the USSR and up until 2010) is a new indie game from Russian studio Tallboys, unveiled on Steam in July 2020. “Escape from the Giant Policeman before he catches you in this first-person open-sandbox game set in a mysterious world,” reads the project’s Steam page. The location is …

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