Rovio Entertainment Corporation, Finnish developer of the Angry Birds franchise, made a $3 million investment in a venture capital fund managed by Play Ventures.
Founded in 2018 by video game entrepreneurs Harri Manninen and Henric Suuronen, Play Ventures intends to invest in 20 to 25 companies. So far, it has invested in five, and has achieved its funding goal of $30 million through a mix of investments from private parties and gaming companies.
“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,” says Rovio CFO René Lindell. “We regard Henric and Harri’s know-how in the industry as excellent, and we believe that our investment in the fund offers Rovio many interesting possibilities.”
Play Ventures looks to make early-stage investments in emerging video game companies.
Rovio recently launched Angry Birds Dream Blast, its latest mobile game. The Angry Birds Movie 2 hits theaters in August, from Rovio Animation, Columbia Pictures, and Sony Pictures Animation.
