The sports game development industry in Europe is thriving, with a vibrant mix of startups and established players creating engaging experiences for players. Key sectors include mobile gaming, esports, and blockchain-based games. Many companies are innovating by merging traditional sports with advanced gaming technologies, such as virtual reality and NFTs. In recent years, the industry's growth has been propelled by global accessibility and the rise of competitive gaming, attracting not only casual players but also investors looking for lucrative opportunities in digital sports. As interest in gaming continues to grow, European developers are prioritizing collaboration and sustainability in their upcoming projects.


The list features a variety of investors, from venture capital firms like Initial Capital and Index Ventures to corporate entities such as THQ Nordic and MTG. With headquarters spanning London, Paris, Kyiv, and beyond, the investors represent a mix of sizes, from micro-ventures to substantial firms with hundreds of employees. Founded between 1987 and 2019, these investors collectively made remarkable investments in 2024, with categories ranging from cryptocurrencies to traditional gaming startups. This mix reflects the growing interest in sports game development across Europe, signaling a healthy investment climate for the industry.


Top 12 Sports Game Development Investors in Europe


1. Kima Ventures

  • Website: kimaventures.com
  • Type: Venture Capital
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2010
  • Headcount: 1-10
  • Number of deals in 2024: 50
  • LinkedIn: kima-ventures

Kima Ventures is a venture capital firm based in Paris, Île-De-France, France, founded in 2010. The firm specializes in investing in early-stage startups across various sectors, providing financial support and mentorship to help them navigate initial challenges and achieve success. Kima Ventures backs two startups per week, demonstrating a robust commitment to fostering innovation. Among their notable investments is Sorare, which raised over €500k in a pre-seed round in May 2019. Sorare is known for developing the first blockchain-based football game, aiming to partner with major professional football leagues. This investment highlights Kima Ventures' engagement in the sports game development industry, showcasing their interest in innovative gaming solutions that intersect with sports.


2. Hiro Capital

  • Website: hiro.capital
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2019
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: hirocapital

Hiro Capital is a venture capital firm based in London, England, founded in 2019. The firm specializes in investing in innovative companies within the gaming, esports, and technology sectors. With a focus on building the future of games, digital sports, and metaverse technologies, Hiro Capital provides funding, strategic insights, and networking opportunities to help startups grow and succeed. Notable transactions include leading a $3.3 million seed funding round for Lightfox Games, which is developing 'Super Battle League', a mobile game with sports elements. They also led a $6.4 million investment in Twin Suns Corp and FRVR, which are involved in game innovation. Their investments in companies like Telltale Games and Keen Games further demonstrate their commitment to the gaming industry, making them a key player in the development of sports games and related technologies.


3. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through a range of services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. In the context of sports game development, Bpifrance has made significant investments in relevant companies such as Homa Games, which raised $99,815,606 in a Series B round, and Esports Virtual Arenas, which secured $7,056,452 in a venture round. These transactions highlight Bpifrance's commitment to supporting the gaming industry, particularly in areas that intersect with sports and esports.


4. Initial Capital

  • Website: initialcapital.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: initial-capital

Initial Capital is a venture capital firm based in London, England, founded in 2010. The firm focuses on seed and early-stage technology companies, particularly within the Bitcoin ecosystem, while also providing capital and strategic advisory services to entrepreneurs. Notably, Initial Capital has participated in significant funding rounds for gaming companies such as Supercell, which is known for its mobile games, and Super Evil Mega Corp, the creator of the popular esports game Vainglory. Their involvement in these transactions highlights their interest in the gaming industry, particularly in projects that may align with sports and competitive gaming.


5. ZBS Capital

  • Website: zbs.capital
  • Type: Venture Capital
  • Headquarters: Kyiv, Kyiv, Ukraine
  • Founded year: 2017
  • Headcount: 1-10
  • Number of deals in 2024: 11
  • LinkedIn: zbscapital

ZBS Capital is a venture capital firm based in Kyiv, Ukraine, founded in 2017. The firm specializes in the cryptocurrency and blockchain sectors, investing in and advising web 3.0 startups. ZBS Capital leverages its media expertise and extensive network to support innovative projects. Notably, ZBS Capital has participated in several transactions relevant to the gaming industry, including Nitro League, a play-to-earn racing game that secured $5 million in funding, and Zone, a gamefi ecosystem on the Algorand blockchain that raised $2.35 million. They also invested in GoFungibles, which is launching a global game and a cross-chain gamified marketplace. These transactions highlight ZBS Capital's commitment to supporting the development of gaming projects, particularly those that incorporate blockchain technology.


6. Index Ventures

  • Website: indexventures.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1996
  • Headcount: 51-200
  • Number of deals in 2024: 67
  • LinkedIn: index-ventures

Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm invests in innovative startups across various sectors, including technology and healthcare, but has also made significant investments in the gaming industry. Notably, they co-led a $130 million funding round for Supercell, a prominent mobile game developer, and have invested in Super Evil Mega Corp, the creator of the popular esports game Vainglory, which raised $19 million and $26 million in funding rounds to develop hardcore esports games. Additionally, Index Ventures co-led a $5.5 million investment in Hutch, a mobile gaming studio known for its racing titles, including those developed under licensing agreements with major brands like Mattel. These transactions highlight Index Ventures' commitment to supporting the growth of gaming companies, particularly those involved in sports and competitive gaming.


7. Mtg

  • Website: mtg.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1987
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: mtg

Modern Times Group (MTG) is a gaming and entertainment company based in Stockholm, Sweden, founded in 1987. The company operates a portfolio of gaming studios that develop and publish a wide range of mobile and browser games, focusing on engaging gaming experiences for consumers worldwide. Notably, MTG has made significant acquisitions in the gaming sector, including Hutch Games, a prominent developer of mobile racing games, for USD 275 million, which highlights their interest in the sports game genre. Additionally, MTG acquired InnoGames, known for its popular browser games, and Plarium, the developer of the mobile RPG RAID: Shadow Legends, further showcasing their strategy to enhance their gaming portfolio and capitalize on growth opportunities in various gaming segments.


8. MV Global

  • Website: mvglobal.io
  • Type: Venture Capital
  • Headquarters: Cumbria, England, United Kingdom (UK)
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: masterventures

MV Global is a venture capital firm based in Cumbria, England, founded in 2017. The firm specializes in building and supporting early-stage web3 businesses, providing services such as venture creation, equity and token investments, and strategic operational support. MV Global has been actively involved in the gaming sector, particularly in blockchain gaming. Notable transactions include their participation in the seed funding rounds for Aether Games, which raised $4.5 million for a gaming project, and OP Games, which secured $8.6 million to develop blockchain-based games. Their investments in companies like HitBox Games and Good Games Guild further highlight their focus on innovative gaming solutions, making them a significant player in the sports game development landscape.


9. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises. Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Among its notable transactions, Almi has invested in Zordix, a company that has developed games with sports elements, and Sideline Labs, which may also have applications in the sports domain. These investments suggest that Almi is not only focused on traditional industries but is also exploring opportunities within the gaming sector, including sports game development.


10. Velo Partners

  • Website: velopartners.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2013
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: velo-partners

Velo Partners is a venture capital firm based in London, England, founded in 2013. They specialize in investing in early-stage companies within the gaming and gambling sectors, providing both financial backing and strategic guidance to help these businesses grow. Velo Partners has been involved in several notable transactions, including an $8 million seed investment in Tripledot Studios, which focuses on mobile gaming, and a $12 million venture round for Candivore, a gaming company. Additionally, they participated in a seed funding round for Jarvi Games, which is developing the open-world MMO Vice Online. This involvement in various gaming projects highlights their commitment to the gaming industry, making them a relevant player in the sports game development context.


11. THQ Nordic


THQ Nordic is a video game publisher and developer based in Vienna, Austria, founded in 2011. The company has established a strong presence in the gaming industry by offering a diverse portfolio of video games across various platforms. Notably, THQ Nordic has made several strategic acquisitions that enhance its capabilities in the sports game development sector. In 2019, they acquired Milestone, a prominent developer known for its racing games, for approximately $50 million. This acquisition highlights THQ Nordic's commitment to expanding its offerings in the sports genre. Additionally, they have acquired other studios such as Bugbear Entertainment and Purple Lamp Studios, further diversifying their portfolio. With a focus on quality and innovation, THQ Nordic continues to engage with gamers and maintain a strong community presence, making them a relevant player in the sports game development landscape.


12. Magnus Capital


Magnus Capital is a venture capital firm based in Amsterdam, Netherlands, founded in 2017. Specializing in the cryptocurrency space, they provide investment, advisory, incubation, and market education services to help innovators bring their projects to market. Magnus Capital has been involved in several notable transactions in the gaming sector, particularly those that leverage blockchain technology and NFTs. For instance, they participated in the seed funding rounds for Zomfi, an NFT game, and Metastrike, which raised significant amounts to support their development. Additionally, they were involved in the fundraising for GoFungibles, which plans to launch a global game. These transactions highlight Magnus Capital's engagement with the gaming industry, particularly in innovative projects that may have applications in sports game development.



Sports Game Development Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Kima VenturesParis, Île-De-France, France1-10201050
Hiro CapitalLondon, England, United Kingdom (UK)1-1020195
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
Initial CapitalLondon, England, United Kingdom (UK)1-1020102
ZBS CapitalKyiv, Kyiv, Ukraine1-10201711
Index VenturesLondon, England, United Kingdom (UK)51-200199667
MtgStockholm, Stockholm, Sweden11-5019871
MV GlobalCumbria, England, United Kingdom (UK)11-5020178
AlmiStockholm, Stockholm, Sweden201-50019947
Velo PartnersLondon, England, United Kingdom (UK)1-1020132
THQ NordicVienna, Vienna, Austria501-100020110
Magnus CapitalAmsterdam, North Holland, Netherlands11-5020176


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