GXC, a South Korea-based global video game solutions company, has launched a $40-million venture fund focused on game developers and video game-related investments.
In a statement, the gaming firm said the new VC fund, Round Ventures, will invest $2-8 million per gaming firm with co-investors. On its website, GXC said its co-investors include other game venture investors.
Investment deals will also come from GTR, its partner global game accelerator. The fund will also hold two investment events annually in Asia and Europe.
“Round Ventures invests in the gaming sector via a systematic approach based on a profound understanding of game player data via the G.Round platform and of company members and structure,” GXC added.
Its first investment will be made in November during the firm’s event, known as Round Ventures Select Asia, in Jeju, South Korea. GXC said it will invite up to 20 video game companies to showcase their games and services to the fund’s team and investors.
“We believe the video games industry is in need of a system where early-stage companies receive both growth and guidance on how to execute their projects successfully,” said Round Ventures general partner Rick Nahm.
GXC, established in 2021 in Jeju, South Korea, raised an additional $9.1 million in Series A funding in January this year. The round followed a $4.73 million Series A round announced in April last year.
The round was led by KNET Investment Partners LLC, with participation from Korea Development Bank, Tiger Asset Management Discretionary Invest, Vision-Creator, and Megazone.