GXC, a South Korea-based gaming firm, has launched a US$40 million fund called Round Ventures to invest in early-stage game developers and startups.
Photo credit: GXC
The fund aims to invest US$2 million to US$8 million per company at a valuation of US$10 million to US$50 million.
In a statement, the firm said that its portfolio companies either should have already generated revenue with a current project or are still working on a new project that has “momentum around it.”
GXC has several products: the Global Top Round (GTR) accelerator and the G Round game testing platform. Round Ventures itself will be led by Rick Nahm, who also co-founded the GTR Accelerator.
This November, the VC fund will organize its first investment summit in South Korea, inviting 10 to 15 video game companies to showcase their products.
See also: These are the most active investors in Korea’s startups
Editing by Miguel Cordon and Jaclyn Tiu
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