Game Insight and IMI.VC close $25 million investment deal
Game Insight, a global leader in development and publishing of mobile and social games, and IMI.VC, a Moscow-based venture investment firm led by technology entrepreneur and Internet visionary Igor Matsanyuk, have finalized a deal totaling $25 Million (USD). Following several smaller investments from IMI.VC in 2011 and 2012, this deal represents the first substantial investment made on the part of IMI.VC to Game Insight.
The funds raised in this latest round will primarily be used to further develop Game Insight’s production pipeline, aiding in diversifying Game Insight’s already impressive portfolio. In addition, the company plans to broaden development resources of more than 10 development studios, global expansion into emerging markets, and extension of marketing activities for current and upcoming projects.
“In less than three years, Game Insight has grown from a young startup to an incredibly successful and dynamically growing company. In this brief time, we have become one of the global leaders in development and publishing of mobile and social titles,” said Alisa Chumachenko, founder and CEO of Game Insight. “Today Game Insight has an unparalleled supply of development resources, invaluable experience marketing our titles in various markets throughout the globe, and a superb working model of delivering successful, high-quality games. These new funds will help solidify our position in key regions, and aggressively expand into countries with emerging mobile markets.”
“This deal is the next logical step in growing the IMI.VC investment portfolio with one of our most successful investment projects,” said Igor Matsanyuk, CEO of IMI.VC. “Game Insight has a clear strategy of development for the international mobile market and has all the necessary resources to execute it. Considering the explosive growth and fast-paced nature of the mobile market, we are very optimistic about the prospects of a gaming company which has already achieved so much in such a short time.”
In late 2012, IMI.VC received an investment of $75 million (USD) from Michael Vinchel, one of founders of the Mail.Ru Group. IMI plans on using these funds to bolster key portfolio investments such as Game Insight; NARR8, a developer and publisher of interactive episodic stories; and the Farminers technology start-up incubator.