Gem Capital invests $5M IN Weappy, VEA Games and Game Garden

GEM Capital announced today that it has invested a combined $5 million into three game development studios.

Paphos, Cyprus-based GEM Capital said the funds were allocated from the latest $50 million game venture capital fund that it raised last year. The one thing the three studios share in common is they are all based in Cyprus. And while the $5 million is not a lot for three studios, the money goes farther for companies that have lower costs in Cyprus.