Multi-territory commercial and pay-television broadcaster Modern Times Group has launched a $30m (€25.3m) investment fund that will target US and European online gaming companies.
MTG said the fund will complement the company’s larger-scale acquisitions. MTG intends on investing in five to 10 companies annually over the next three years.
MTG will target early-stage companies that present strategic value to the group in the fields of online gaming, esports and gaming-focused virtual and augmented reality. MTG has made esports a focus as part of its ongoing transformation into a leading global digital entertainment group.
Jørgen Madsen Lindemann, MTG president and chief executive, said: “We are stronger than ever in our traditional markets, with exciting content that engages diverse audiences across multiple platforms and on every screen. At the same time, we are leading esports into the global mainstream, captivating hundreds of millions of online gamers, and creating video content that generates billions of views across the world.
“MTG’s expertise is in storytelling and we want our stories to be available everywhere. Our partnerships with content creators and distributors around the world, and the rapid growth of our digital products, clearly demonstrate the relevance of our stories and provide the basis for our long term profitable growth. This is why we are also launching a gaming fund to help nurture the next generation of digital entertainment experiences.”