A $40 million fund dubbed Round Ventures has been established by the South Korean gaming company GXC to finance startups and early-stage game creators.
At a valuation of US $10 million to US $50 million, the fund intends to invest US $2 million to US $8 million in each firm.
The company said in a statement that its portfolio firms either need to be in the midst of generating money from an ongoing project or are still working on a fresh initiative with momentum surrounding it.
The Global Top Round (GTR) accelerator and the G Round game testing platform are only two of the many goods produced by GXC. Rick Nahm, who previously co-founded the GTR Accelerator, will serve as the CEO of Round Ventures.
Ten to fifteen video game businesses have been invited by the venture capital fund to present their goods at the summit, which will be held in South Korea in November.