Wargaming's Nick Katselapov launches investment firm Mika Games
The CEO says 83% of mobile games fail in three years due to a lack of financing and business support
Nick Katselapov, cofounder of Wargaming, has unveiled the investment firm Mika Games.
As reported by VentureBeat, Mika Games has raised $10 million in its initial funding round. It has invested in the mobile game studios Guli Games and Hot Siberians.
The firm intends to raise $50 million in funding for the mobile games sector.
Mika Games will not only provide investments but also offer developers support, including marketing, game design, and monetization.
"83% of mobile games fail within three years, and a significant factor contributing to this is the lack of financing and business guidance," said Katselapov.
"We see a huge market gap here, which presents an immense opportunity that we can capitalize on. Our industry experience as both investors and operators positions us well to select talented teams and ambitious games."