The arcade game manufacturers industry in Europe is a vibrant sector focused on creating entertaining gaming experiences. Companies in this arena range from established game developers to innovative startups, producing everything from classic arcade machines to modern mobile experiences. The industry is increasingly integrating technology like VR and blockchain, appealing to a broader audience of casual and hardcore gamers alike. With the rise of tournaments and eSports, arcade-style games are gaining traction, leading to higher investments. Insights reveal that nostalgia plays a significant role, as many players are returning to arcade titles that evoke fond memories from their youth.

This list showcases a mix of investors across Europe, including venture capital firms and corporate investors. They hail from locations like Paris, London, and Helsinki, with firm sizes ranging from small teams to large organizations. These investors, founded from 1994 to 2021, have actively participated in a total of 250 investment deals in 2024 alone. Their deep involvement in the gaming sector illustrates a shared commitment to fostering innovation and growth in the gaming industry.

Top 17 Arcade Game Manufacturers Investors in Europe

1. Keywords Studios

• Website: keywordsstudios.com
• Type: Corporate
• Headquarters: Dublin, Dublin, Ireland
• Founded year: 1998
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn: keywordsstudios

Keywords Studios plc, founded in 1998 and based in Dublin, Ireland, is a prominent video game service provider specializing in various aspects of game development, including art, audio, localization, and quality assurance. With a workforce of over 10,000 employees, Keywords Studios caters to clients across the video game industry, offering tailored solutions to enhance game experiences and reach global audiences. The company has made several strategic acquisitions to bolster its capabilities, including Heavy Iron Studios, known for its work on various gaming titles, and Smoking Gun Interactive, which is expected to deliver significant EBITDA. Additionally, their acquisition of High Voltage Software, recognized for its contributions to popular titles like Fortnite, further emphasizes their commitment to expanding their influence in the gaming sector. These transactions highlight Keywords Studios' active role in the gaming industry, which may include arcade game development.

2. 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, backing two startups per week with financial support and mentorship to help them navigate initial challenges and achieve success. Notably, Kima Ventures has invested in gaming-related companies such as Pixowl, which focuses on multi-platform mobile game development, and Flashbreak, which has raised significant funding for its gaming initiatives. These transactions highlight Kima's engagement in the gaming industry, showcasing their interest in supporting innovative gaming startups, including those that may be involved in arcade game manufacturing.

3. Sisu Game Ventures

• Website: sisu.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2014
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: sisu-game-ventures

Sisu Game Ventures is a venture capital fund based in Helsinki, Uusimaa, Finland, founded in 2014. The firm specializes in early-stage investments within the gaming industry, providing funding, strategic support, and industry connections to game developers and startups. They aim to help these companies navigate the challenges of building successful gaming ventures. Notable transactions include participation in seed funding rounds for indie game developers such as FuzzyBot, which raised $3.5 million, and Extra Dimension Games, which secured $1.4 million. Additionally, they have invested in 1939 Games, which raised significant amounts in venture rounds. These investments highlight Sisu Game Ventures' commitment to supporting innovative gaming projects, potentially including those in the arcade game sector.

4. Ubisoft

• Website: ubisoft.com
• Type: Corporate
• Headquarters: Issy-Les-Moulineaux, Île-De-France, France
• Founded year: 1986
• Headcount: 10001+
• LinkedIn: ubisoft

Ubisoft Entertainment SA, founded in 1986 and based in Issy-Les-Moulineaux, Île-De-France, France, is a prominent video game publisher and developer recognized for its popular franchises such as Assassin's Creed and Far Cry. The company has a strong presence in the gaming industry, operating through digital platforms to provide engaging entertainment experiences. Notably, Ubisoft has made several strategic acquisitions that enhance its portfolio in the gaming sector. For instance, the acquisition of RedLynx in 2011 brought in expertise in online games and physics-based mechanics, particularly relevant to arcade-style games like Trials HD. Additionally, the acquisition of Blue Mammoth Games in 2018, known for the free-to-play online brawler Brawlhalla, further demonstrates Ubisoft's interest in games that resonate with arcade gaming audiences. These transactions highlight Ubisoft's commitment to diversifying its offerings and tapping into the arcade gaming market.

5. 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 London-based venture capital firm founded in 2010, focusing on seed and early-stage technology companies, particularly within the Bitcoin ecosystem. They provide capital and strategic advisory services to entrepreneurs, helping them navigate the complexities of business growth and development. Notably, Initial Capital has participated in significant funding rounds for gaming companies, including Supercell, a prominent game developer known for its mobile games, and Resolution Games, a VR gaming studio. Their investments in these companies highlight their engagement in the gaming sector, which includes potential arcade game development. Additionally, Initial Capital has been involved in funding rounds for Space Ape Games, further emphasizing their interest in the gaming industry.

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 specializes in investing in innovative startups across various sectors, including technology and healthcare. They provide capital and strategic support to entrepreneurs, helping them navigate the challenges of growing their businesses. Index Ventures has been involved in several notable transactions in the gaming industry, such as co-leading a $130 million funding round for Supercell, a leading mobile game developer, and participating in a $43 million Series A round for King.com, known for its popular game Candy Crush. More recently, they have invested in Dream Games, contributing to multiple funding rounds totaling over $500 million, showcasing their commitment to supporting growth in the gaming sector. Their focus on building long-term partnerships with founders positions them as a valuable investor in the arcade game manufacturing space.

7. Crowdcube

• Website: crowdcube.com
• Type: Corporate
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2010
• Headcount: 51-200
• Number of deals in 2024: 3
• LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating the funding process. The platform promotes diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has facilitated funding for various gaming-related ventures, including gamesGRABR, which raised £450,000 in 2015, and Cloud 9 Leisure, which raised $646,619 in 2020. These transactions highlight Crowdcube's involvement in the gaming sector, although they do not specifically target arcade game manufacturers. Overall, Crowdcube serves as a bridge for diverse investment opportunities, including those in the gaming industry.

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 involved in several notable transactions in the gaming sector, including investments in Aether Games, which raised $4.5 million for its blockchain gaming initiatives, and Metastrike, which secured $3.3 million for its gaming platform. Additionally, they participated in funding rounds for OP Games, a blockchain gaming startup that raised $8.6 million. These investments highlight MV Global's commitment to innovative technology companies in the gaming industry, particularly those exploring the intersection of gaming and blockchain technology.

9. 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, developing and publishing a wide range of mobile and browser games. MTG focuses on providing engaging gaming experiences to consumers worldwide, leveraging its expertise in user engagement and innovation. Notable transactions include the acquisition of Ninja Kiwi, a mobile games developer, for approximately SEK 1,217 million, which reflects their strategy to diversify their gaming segment. Additionally, MTG acquired Snowprint Studios, known for developing Warhammer 40,000: Tacticus, for an estimated $50 million, further showcasing their investment in gaming studios. Their participation in funding rounds for companies like Joyride Games, which focuses on blockchain gaming, also highlights their active role in the gaming industry.

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. Notable transactions include investments in Moon Active, a gaming company that raised an undisclosed amount in 2018, and Tripledot Studios, which secured $8 million in a seed round the same year. More recently, they invested $3 million in Playgama in December 2024. Their portfolio reflects a commitment to supporting innovative gaming companies, which may include those involved in arcade game manufacturing.

11. Supercell

• Website: supercell.com
• Type: Corporate
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2010
• Headcount: 501-1000
• Number of deals in 2024: 6
• LinkedIn: supercell

Supercell Ltd is a mobile game developer based in Helsinki, Finland, known for creating popular titles such as Hay Day, Clash of Clans, and Brawl Stars. Founded in 2010, Supercell operates with a unique structure that empowers independent teams to innovate and develop games. In recent years, Supercell has made several strategic investments in the gaming industry, including acquiring a 51% stake in Frogmind, a Finnish mobile developer, for $7.8 million in 2016. This acquisition allowed Frogmind to operate independently while benefiting from Supercell's resources. In 2017, Supercell acquired 62% of Space Ape Games for $55.8 million, further solidifying their presence in the mobile gaming market. Additionally, Supercell participated in funding rounds for Redemption Games, a mobile game studio, indicating their ongoing interest in supporting game development. These transactions highlight Supercell's active role in the gaming industry, particularly in mobile and potentially arcade-style games.

12. 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 by offering tailored financial solutions and guidance. Notably, Almi has been involved in several transactions relevant to the gaming industry, including investments in Zordix, a game developer, and Mionix, a company that produces gaming peripherals. These investments highlight Almi's engagement in the gaming sector, particularly in areas that could intersect with arcade game manufacturing.

13. Balderton Capital

• Website: balderton.com
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2000
• Headcount: 51-200
• Number of deals in 2024: 25
• LinkedIn: balderton-capital_2

Balderton Capital is a London-based venture capital firm founded in 2000, specializing in investing in European-founded technology companies. With a focus on enhancing founder wellbeing and performance, they provide not only financial backing but also support programs for startups navigating growth challenges. Notably, Balderton has been involved in several key transactions in the gaming industry, including leading an $83.3 million funding round for Big Fish Games, which focuses on global expansion and distribution for third-party developers. Additionally, they acquired a significant stake in Codemasters, Europe's largest independent video game developer and publisher, which has a history of producing arcade-style games. Their investment in NaturalMotion and Dream Games further highlights their engagement in the gaming sector, making them a relevant player in the arcade game manufacturers landscape.

14. Microsoft Accelerator

• Website: microsoftaccelerator.com
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2013
• Headcount: 51-200
• LinkedIn: microsoft-accelerator

Microsoft Accelerator is a venture capital firm based in London, England, founded in 2013. It is part of Microsoft, a leading technology company specializing in artificial intelligence and cloud computing solutions. The firm aims to enhance productivity for businesses across various industries through secure and effective AI integration. Among its notable transactions, Microsoft Accelerator invested in AntStream Arcade, a platform that offers a cloud-based service for classic arcade games, raising an undisclosed amount in 2016. This investment highlights their engagement with the arcade game sector, alongside other investments in technology-focused startups such as Eulerspace and PlayCanvas, which, while not directly related to arcade games, showcase their interest in innovative tech solutions.

15. Breeder DAO

• Website: breederdao.io
• Type: Corporate
• Headquarters: Rode, England, United Kingdom (UK)
• Founded year: 2021
• Headcount: 11-50
• Number of deals in 2024: 8
• LinkedIn: breeder-dao

Breeder DAO is a corporate investor based in Rode, England, specializing in blockchain gaming and NFT asset creation. Founded in 2021, the firm focuses on empowering gaming guilds, developers, and players through tailored digital assets and governance solutions. In 2024, Breeder DAO has made several notable investments, including a seed funding round for Cathedral Studios, a UK-based indie game studio, and Mon Studios, which raised $1.35 million. They also participated in the seed round for Blocklords, which raised $15 million, and MetaverseGo, a mobile gaming platform that secured $4.2 million. These transactions highlight Breeder DAO's active role in supporting various gaming projects, indicating their commitment to enhancing the gaming experience and community engagement.

16. Heartcore Capital

• Website: heartcore.com
• Type: Venture Capital
• Headquarters: Copenhagen, Denmark
• Founded year: 2007
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies, with a strong emphasis on building long-term relationships with entrepreneurs. Heartcore has been active in the gaming sector, having invested in companies like Fast Travel Games, a VR games studio that raised a total of $2.9M to launch their first game, and Seriously, a mobile gaming studio that has raised significant funding to develop engaging mobile games. These transactions highlight Heartcore's commitment to supporting innovative gaming ventures, making them a notable player in the gaming investment space.

17. Miniclip

• Website: miniclip.com
• Type: Corporate
• Headquarters: Neuchâtel, Neuchâtel, Switzerland
• Founded year: 2001
• Headcount: 1001-5000
• Number of deals in 2024: 2
• LinkedIn: miniclip

Miniclip is a mobile game publisher based in Neuchâtel, Switzerland, specializing in digital games and entertainment. Founded in 2001, the company has grown to reach over 400 million players monthly with popular titles like 8 Ball Pool and Subway Surfers. In recent years, Miniclip has made several strategic acquisitions to enhance its portfolio in the gaming industry. Notably, they acquired FuturLab, the developer of PowerWash Simulator, in March 2024, aiming to expand into the console and PC gaming space. They also acquired Masomo, known for Head Ball 2, in 2019, which bolstered their offerings in sports-focused casual multiplayer games. Furthermore, their acquisition of SYBO Games, the developer of Subway Surfers, in 2022, marked a significant milestone in Danish gaming history. These transactions reflect Miniclip's commitment to enhancing its presence in the gaming market, particularly in areas that resonate with arcade gaming.

Arcade Game Manufacturers Insights: Key Investors in Europe

Investor	Headquarter	Size	Founded	Deals 2024
Keywords Studios	Dublin, Dublin, Ireland	10001+	1998	2
Kima Ventures	Paris, Île-De-France, France	1-10	2010	50
Sisu Game Ventures	Helsinki, Uusimaa, Finland	1-10	2014	2
Ubisoft	Issy-Les-Moulineaux, Île-De-France, France	10001+	1986	0
Initial Capital	London, England, United Kingdom (UK)	1-10	2010	2
Index Ventures	London, England, United Kingdom (UK)	51-200	1996	67
Crowdcube	London, England, United Kingdom (UK)	51-200	2010	3
MV Global	Cumbria, England, United Kingdom (UK)	11-50	2017	8
Mtg	Stockholm, Stockholm, Sweden	11-50	1987	1
Velo Partners	London, England, United Kingdom (UK)	1-10	2013	2
Supercell	Helsinki, Uusimaa, Finland	501-1000	2010	6
Almi	Stockholm, Stockholm, Sweden	201-500	1994	7
Balderton Capital	London, England, United Kingdom (UK)	51-200	2000	25
Microsoft Accelerator	London, England, United Kingdom (UK)	51-200	2013	0
Breeder DAO	Rode, England, United Kingdom (UK)	11-50	2021	8
Heartcore Capital	Copenhagen, Denmark	11-50	2007	17
Miniclip	Neuchâtel, Neuchâtel, Switzerland	1001-5000	2001	2

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