The gaming industry in Europe is a vibrant ecosystem characterized by a mix of innovative developers, publishers, and service providers. This sector not only includes global giants like Ubisoft and THQ Nordic but also numerous dynamic startups focused on mobile, console, and PC games. European companies are known for pushing the boundaries of technology, offering immersive experiences and engaging gameplay through augmented reality, virtual reality, and blockchain. As trends evolve, gaming is becoming increasingly intertwined with social media and eSports, suggesting a promising future that emphasizes community-driven experiences.


Our list of top gaming investors showcases a range of influential players, from corporate giants like Ubisoft to venture capital firms like Index Ventures. These investors are mainly headquartered in key cities such as London, Paris, and Stockholm. Founded between the late 1980s and 2010s, the firms vary in size, some with thousands of employees while others operate with lean teams. Collectively, they engaged in 337 deals in 2024 alone, reflecting not just the investors' robust strategies but also the growing interest in gaming ventures.


Top 17 Gaming Investors in Europe


1. Keywords Studios


Keywords Studios plc is a video game service provider based in Dublin, Ireland, founded in 1998. The company specializes in various aspects of game development, including art, audio, localization, and quality assurance, catering to clients in the video game industry. Keywords Studios has made several strategic acquisitions to enhance its service offerings and capabilities. Notable transactions include the acquisition of High Voltage Software, a U.S.-based game development firm known for titles like Fortnite, for approximately $50 million in December 2020. In April 2021, they acquired UK-based Climax Studios for up to $60 million, further expanding their portfolio. Additionally, in September 2022, they entered into a conditional agreement to acquire Smoking Gun Interactive for a maximum of CAD$40 million. These acquisitions reflect Keywords Studios' commitment to strengthening its position in the gaming industry and providing tailored solutions to enhance game experiences for their clients.


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. Notably, Kima Ventures has invested in several gaming-related companies, including Mino Games, which raised $1.5 million in a seed round in December 2014, and Star Stable Entertainment, which raised $179,334 in a seed round in March 2011. Other relevant transactions include Tamatem, Starchain Gazer, and Supercosi, showcasing their active participation in the gaming industry. This diverse portfolio highlights Kima Ventures' commitment to supporting innovative startups, including those in the gaming sector.


3. 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 leading video game publisher and developer. The company is renowned for its popular franchises, including Assassin's Creed and Far Cry, and offers a diverse range of engaging entertainment experiences through digital platforms. Ubisoft has been actively involved in the gaming industry through various strategic acquisitions, such as the purchase of the Far Cry franchise from Crytek, which allowed them to independently develop new entries in the series. They also acquired Ubisoft Reflections Ltd. and Massive Entertainment, enhancing their development capabilities. Furthermore, Ubisoft's acquisition of Nadeo, the developer of TrackMania, demonstrates their commitment to expanding into online gaming. In addition to acquisitions, Ubisoft participated in a funding round for Animoca Brands, raising $65 million, showcasing their interest in supporting innovative gaming ventures.


4. 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 in the gaming industry, providing not only funding but also strategic support and industry connections to help game developers and startups navigate the challenges of building successful gaming companies. Notable transactions include participation in Resolution Games' Series B and C funding rounds, which raised a total of $32.5 million to enhance their portfolio of augmented and virtual reality games. Additionally, Sisu Game Ventures invested in Mainframe Industries during their Series A funding round, which secured €7.6 million to expand operations in Helsinki and Reykjavik. They also participated in the seed funding for Utopos Games, contributing to the development of their first PC game. These investments highlight Sisu Game Ventures' commitment to fostering innovation and collaboration within the gaming sector.


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, focusing on 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 been involved in several significant transactions within the gaming context, including investments in GameFi.org, a platform for gaming finance, and Decimated, a blockchain-based game. They also participated in the funding of Continuum World, an upcoming NFT game, showcasing their commitment to the gaming industry. Additionally, ZBS Capital has engaged in various funding rounds, including Initial Coin Offerings, which further emphasizes their focus on projects that blend gaming with blockchain technology.


6. 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 specializes in seed and early-stage investments in technology companies, particularly within the Bitcoin ecosystem. However, Initial Capital has also made significant investments in the gaming sector, notably in companies like Supercell, which raised funds in both seed and Series A rounds, and Super Evil Mega Corp, known for its mobile esports game Vainglory. Initial Capital's involvement in these funding rounds highlights its interest in supporting innovative gaming companies and contributing to their growth and development.


7. 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. They provide not only funding but also strategic insights and networking opportunities to help startups grow and succeed. Hiro Capital is particularly focused on building the future of games, digital sports, and metaverse technologies. Notable transactions include leading a $8 million Series A funding for Telltale Games to support the launch of 'The Expanse: A Telltale Series' and the development of 'The Wolf Among Us 2'. They also led a $9 million Series B investment in Polyarc, the studio behind the acclaimed game 'Moss', to expand into augmented reality development. Additionally, Hiro Capital invested in Snow Print Studios and Keen Games, further demonstrating their commitment to supporting diverse gaming projects and studios. Their active role in these significant funding rounds highlights their relevance and influence in the gaming industry.


8. 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 established a significant presence in the gaming industry. Notable transactions include a $130 million Series B funding round for Supercell, the creator of popular mobile games like Clash of Clans, and multiple investments in Super Evil Mega Corp, known for developing the mobile esports game Vainglory. Additionally, Index Ventures led a $4 million Series A funding round for Supersolid, a mobile games developer focused on enriching gaming experiences. These investments highlight Index Ventures' commitment to supporting the growth of gaming companies and their strategic vision in the gaming sector.


9. 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 focuses on building and supporting early-stage web3 businesses, providing services such as venture creation, equity and token investments, and strategic operational support. MV Global primarily targets innovative technology companies looking to navigate the complexities of the market. Notably, they have participated in several significant transactions within the gaming sector, including a $4.5 million investment in Aether Games, which focuses on gaming, and involvement in funding rounds for ChainGuardians, MECH.COM, Metastrike, and Elumia, all of which are related to gaming and blockchain technology. These investments highlight MV Global's commitment to the gaming industry, particularly in the context of emerging technologies like NFTs and play-to-earn models.


10. Stillfront

  • Website: stillfront.com
  • Type: Corporate
  • Headquarters: Ödeshög, Östergötland, Sweden
  • Founded year: 2010
  • Headcount: 1001-5000
  • LinkedIn: stillfront

Stillfront Group, founded in 2010 and based in Ödeshög, Sweden, is a corporate investor and a prominent player in the gaming industry. The company develops and publishes a wide array of digital games, attracting nearly 50 million players monthly. Stillfront focuses on creating engaging gaming experiences across various genres, including strategy and simulation. The company has a global presence and collaborates with independent game studios to enhance its offerings. Notably, Stillfront has made several strategic acquisitions to bolster its portfolio, including:1. **KIXEYE** - Acquired for up to $120 million, enhancing Stillfront's portfolio of gaming studios (Announced on Jun 03, 2019).2. **Goodgame Studios** - Acquired for approximately $318 million, further expanding its reach in the gaming market (Announced on Dec 07, 2017).3. **Storm8** - Acquired for $300 million upfront, with potential additional payments based on performance, showcasing Stillfront's aggressive growth strategy (Announced on Jan 21, 2020).4. **Moonfrog Labs** - Acquired for $90 million, facilitating exits for previous investors and expanding its footprint in the mobile gaming sector (Announced on Feb 01, 2021).5. **Babil Games** - Acquired for $17 million, adding to its diverse gaming portfolio (Announced on Dec 16, 2016).These transactions highlight Stillfront's active role in the gaming industry and its strategy to grow through acquisitions of established game developers.


11. 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 corporate investor based in Stockholm, Sweden, founded in 1987. The company operates a diverse portfolio of gaming studios, focusing on the development and publishing of mobile and browser games. MTG has made several notable acquisitions in the gaming industry, including the acquisition of InnoGames, a developer known for its popular browser games, in May 2017. Additionally, MTG acquired a 35% stake in InnoGames in October 2016, with the option to increase its stake to 51%. In November 2024, MTG announced the acquisition of Plarium, the developer of the mobile RPG RAID: Shadow Legends, for a total upfront payment of USD 620 million, further enhancing its gaming portfolio. MTG also expanded its presence in the eSports market by acquiring DreamHack, an eSports firm and event organizer, in November 2015. These transactions highlight MTG's strategic focus on the gaming sector and its commitment to leveraging user engagement and innovation in gaming experiences.


12. Gsr

  • Website: gsr.io
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2013
  • Headcount: 201-500
  • Number of deals in 2024: 39
  • LinkedIn: gsr-markets

GSR Markets is a cryptocurrency trading firm based in London, specializing in providing liquidity and trading solutions within the digital asset ecosystem. Founded in 2013, GSR serves a diverse clientele, including cryptocurrency projects, exchanges, and financial institutions, offering services such as market making, OTC trading, and risk management. In recent years, GSR has expanded its investment portfolio to include several notable gaming-related projects. For instance, they participated in a $5.5 million seed round for Pixion Games in June 2023, which focuses on gaming development. Additionally, GSR was involved in the $11 million seed funding round for Atmos Labs, a play-and-earn metaverse developer, in June 2022. They also contributed to the funding of Aether Games, which raised $4.5 million in May 2023, and were part of the investment in Zone, a gamefi ecosystem on the Algorand blockchain, which raised $2.35 million in January 2022. These transactions highlight GSR's active role in the gaming industry, particularly in projects that integrate blockchain technology and digital assets.


13. 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 variety 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 gaming context, Bpifrance has been involved in several notable transactions, including a $99 million Series B investment in Homa Games, a company focused on mobile gaming, and a $7 million seed round for Dogami, a gaming company that integrates pets into the gaming experience. Additionally, they have invested in Esports Virtual Arenas and Gamestream, further demonstrating their active role in the gaming industry.


14. Magnus Capital


Magnus Capital is a venture capital firm based in Amsterdam, Netherlands, founded in 2017. Specializing in the cryptocurrency space, Magnus Capital provides a range of services including investment, advisory, incubation, and market education to help innovators bring their projects to market. They primarily focus on businesses in the cryptocurrency industry, but their investment portfolio includes several notable transactions in the gaming sector. For instance, they participated in the seed funding rounds for Zomfi, an NFT game, and GoFungibles, which aims to launch a global game and a gamified marketplace. Additionally, they were involved in funding for Metastrike and Demole, both of which are related to gaming. These transactions highlight Magnus Capital's active role in supporting the development of gaming projects, particularly those leveraging blockchain technology.


15. 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, founded in 2010. The company is renowned for creating popular mobile games, including Hay Day, Clash of Clans, and Brawl Stars. Supercell operates with a unique structure that empowers independent teams to innovate and develop games autonomously. In addition to its game development, Supercell has made strategic investments in the gaming sector. Notably, in 2016, Supercell acquired a 51% stake in Frogmind, a Finnish mobile developer, for $7.8 million, allowing Frogmind to operate independently while benefiting from Supercell's resources. Furthermore, Supercell has invested in Metacore Games, providing a total of $17.8 million and an $11.8 million credit line to support the development of their game, Merge Mansion. These transactions highlight Supercell's active role in supporting and expanding the gaming ecosystem.


16. Avalon Wealth Club

  • Website: avalonwealthclub.com
  • Type: Corporate
  • Headquarters: Helmshore, England, United Kingdom (UK)
  • Founded year: 2021
  • Headcount: 1-10
  • Number of deals in 2024: 4

Avalon Wealth Club is a consulting firm based in Helmshore, England, specializing in marketing and investment services for blockchain and cryptocurrency projects. Founded in 2021, the firm assists crypto entrepreneurs with marketing strategies, fundraising, branding, and securing exchange listings. Their clientele primarily consists of businesses in the blockchain sector looking to launch and promote innovative projects effectively. Notably, Avalon Wealth Club has been involved in several significant transactions within the gaming industry, including investments in Zomfi, an NFT game that successfully raised $2.6 million, and Nakamoto Games, which also secured funding in a seed round. Additionally, they participated in funding rounds for Chimeras, a Play-to-Earn Metaverse, and DoragonLand, further demonstrating their commitment to supporting gaming ventures that integrate blockchain technology.


17. 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 London-based venture capital firm founded in 2013, specializing in early-stage investments primarily within the gaming and gambling sectors. The firm has a keen interest in companies that show strong early traction and a clear growth trajectory. Notable transactions include their participation in a $3 million seed funding round for Jarvi Games, aimed at developing the open-world MMO Vice Online, and an $8 million Series A funding round for Double Loop Games, which focuses on mobile puzzle hybrid games. Additionally, Velo Partners invested in Pnkfrg Studios, which raised $3 million in seed funding for blockchain gaming, showcasing their engagement with innovative gaming technologies. These transactions highlight Velo Partners' active role in the gaming industry and their commitment to supporting the growth of gaming startups.



Gaming Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Keywords StudiosDublin, Dublin, Ireland10001+19982
Kima VenturesParis, Île-De-France, France1-10201050
UbisoftIssy-Les-Moulineaux, Île-De-France, France10001+19860
Sisu Game VenturesHelsinki, Uusimaa, Finland1-1020142
ZBS CapitalKyiv, Kyiv, Ukraine1-10201711
Initial CapitalLondon, England, United Kingdom (UK)1-1020102
Hiro CapitalLondon, England, United Kingdom (UK)1-1020195
Index VenturesLondon, England, United Kingdom (UK)51-200199667
MV GlobalCumbria, England, United Kingdom (UK)11-5020178
StillfrontÖdeshög, Östergötland, Sweden1001-500020100
MtgStockholm, Stockholm, Sweden11-5019871
GsrLondon, England, United Kingdom (UK)201-500201339
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
Magnus CapitalAmsterdam, North Holland, Netherlands11-5020176
SupercellHelsinki, Uusimaa, Finland501-100020106
Avalon Wealth ClubHelmshore, England, United Kingdom (UK)1-1020214
Velo PartnersLondon, England, United Kingdom (UK)1-1020132


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