HitFox, a Germany gaming company, has launched an incubator, HitFox Game Ventures.
HitFox chief executive Jan Beckers says: “In the past 12 months we have built up a highly productive and entrepreneurial team of 55 gaming, marketing and IT specialists. In addition, we have acquired over 100 game publishers as clients and have seen an eightfold increase in our turnover within the last six months. Taking on the role of incubator, we are now using this momentum and rapport with customers to support other game distribution founders.”
The company said it would make investment in at least two businesses per year in the mid-six figure range.
HitFox itself was set up last year with backing from Germany-based retailer the Tengelmann Group, HV Holtzbrinck Ventures, the former corporate venturing unit of Von Holtzbrinck publishing, Hasso Plattner Ventures, the venture firm of the eponymous co-founder of Germany-based software company SAP, as well as Kite Ventures and Digital Pioneers.
HitFox said it expected to reach a seven-figure monthly turnover and hit the break-even point in the course of this year.
In February 2012 HitFox bought Ad2Games, Germany’s largest advertising network for online games.