South Korea-headquartered gaming technology provider GXC has formed a $40m corporate venturing fund called Round Ventures.
The Singapore-based Round Ventures seeks to back video game-related companies, providing between $2m and $8m per deal and focusing on those already generating revenues. It intends to invest alongside co-investors in rounds sized at about $10m to $50m.
The fund will also be holding an investment summit next month in South Korea titled Round Ventures Select Asia, where startups will have the opportunity to showcase their projects and be chosen for investment.
“The launch of Round Ventures demonstrates GXC’s bullish perspective on the opportunity for value creation from building and investing in the games industry,” said Rick Nahm, the general partner at Round Ventures. “The fund is eager to support the projects of the future.”
Founded in 2015, GXC has expanded throughout the gaming market, opening three branches of business through the Global Top Round Accelerator and the G.Round game platform.
Nahm added: “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.”