Rovio, the Finnish company behind the Angry Birds franchise, has invested $3 million in a VC fund managed by Play Ventures, a firm founded by video game entrepreneurs Harri Manninen and Henric Suuronen last year.
All in all, the fund’s size is $30 million dollars, and the scope is straightforward: Play Ventures aims to back 20 to 25 emerging video game companies from around the world. To date, the fund has invested in five of those, including Starform and Reworks.
“Our investment in Play Ventures is according to our M&A and growth strategy and the fund offers a good seedbed for new game ideas and companies”, comments Rovio CFO René Lindell.
In February, Rovio said it expected its own sales to grow this year, buoyed by new game launches and a second movie release, after its Q4 adjusted operating profit halved.