Gem Capital, a Cyprus-based investment firm, has unveiled plans to inject a substantial €45 million into game studios situated in Eastern Europe. The investment strategy will span the next two years, with a keen focus on pre-seed, seed, and series A-round investments, encompassing funding ranging between €1.8 million and €4.5 million.
Renowned for its impressive track record, Gem Capital currently boasts a portfolio valued at over €90 million, positioning itself as one of the premier gaming funds globally, as assessed by market analysts at InvestGame.
Gem Capital is honing in on a diverse array of game categories for investment, encompassing free-to-play and premium PC and console titles, as well as midcore mobile games and game-tech enterprises. Notably, Gem Capital has already cultivated one of the most extensive game investment portfolios in Cyprus, Eastern Europe, and the Middle East.
Founded in 2017 in Cyprus by Anatoly Paliy, a former PwC professional with ties to Russia, Gem Capital’s current mission revolves around elevating Cyprus into a world-renowned hub for talent. At the helm of Gem Capital are Kirill Gurskiy and Roman Gurskiy, twin brothers with roots in Moscow who later relocated to Cyprus. They serve as the managing directors of the firm.
The VC fund has set its sights on teams beyond Russia, despite having supported numerous Russian-speaking founders. An explicit decision has been made to steer clear of blockchain games and gambling investments, owing to what Kirill Gurskiy perceives as a limited intersection between games and blockchain technology.
With seven out of the top 10 game startups originating from Cyprus being portfolio constituents of Gem Capital, the firm underscores its prowess in fostering gaming success. The firm’s investments consistently yield games with high Steam and Metacritic ratings, with the average surpassing 80%. Looking forward, Gem Capital aims to perpetuate its multi-platform investment strategy, perpetually seeking out visionary founders and teams. Kirill Gurskiy anticipates deploying the new €45 million fund within the next two to three years.
