iGaming Business – Newly formed games investment fund GameOn has launched with a focus on the casual games industry and gaming start-ups in the Netherlands.
Managed by a group of game industry and finance entrepreneurs, GameOn said it would target early-stage Dutch companies in the games ecosystem.
GameOn will launch Dutch Game Fund 1 this quarter with an initial total commitment of €10 million ($16.6 million) in risk capital.
The aim of the fund is to collect 50% through Dutch public entities while the balance will be from private investors. Subsequent funding rounds are planned for later this year.
The initiative is also being supported by the Dutch government, which itself has identified gaming as an important part of one of its ‘Top Sectors’, the creative industry.
The fund will also receive assistance from the Netherlands Foreign Investment Agency (NFIA), an operational unit of the Dutch Ministry of Economic Affairs.
GameOn and the NFIA will work together to attract foreign gaming entertainment companies to set up business in the Netherlands.
In addition, GameOn is also supported by a host of partners in the areas of accountancy, legal, education, IT, PR, distribution, facilities, housing, analytics and business strategy.
“We have a tremendous pool of talented and creative designers in the Netherlands, but they are mostly working for hire, and so we need to learn and build on our games monetisation knowledge,” GameOn founding partner Reinout te Brake said.
“Our aim is to bring together people with this monetisation and marketing knowledge along with the financial opportunity and creative talent to achieve explosive growth here in the Netherlands in this crucial sector.”
Dutch Prime Minister Mark Rutte added: “Entertainment games are serious business and opportunity is knocking at our door. I’m therefore pleased to support the GameOn initiative, which reaffirms our country’s position as a pioneer in creativity and innovation.”
