After years of operating an accelerator, Global Top Round has launched a new seed investment program for game studios.
The venture-focused program will invest more than $2 million annually in game studios, Global Top Round announced today.
GTR is a subsidiary of South Korea’s GXC. For seven years, GTR has operated an accelerator for game companies, and now is expanding to the new seed investment program. The program plans to invest $150,000 to $300,000 in seed funding for five to seven studios each.
These startups are at a later stage than the early-stage startups than the top 10 accepted in the GTR Accelerator.
The program will allow GTR studios to pitch themselves and kick off with a three-month work plan together before any deal is made. Similar to its accelerator program, GTR will work with each partner to maximize self-publishing, publisher, or venture capital plans.
This expansion was made possible by GTR’s parent company, GXC, recently raising more than $13.8 million in funding over the last year. The funding was led by KNET Investment Partners LLC, Korea Development Bank, Hana Financial, and Tiger Asset Management, with participation from others.
“We’re excited to branch into the realm of seed funding venture capital with our new program, “said Pontus Mahler, vice president of global business development at GTR, in a statement. “Whereas our accelerator program has traditionally worked with early-stage startups to build a foundation, this program will focus more on what later-stage startups can do to take their projects to the next level. We’re looking at the future of multi-million dollar
developments.”
GTR is an accelerator program that chooses ten gaming startups from around the world every year and actively supports their growth with investment, networking, and guidance with the goal of reaching publishing deals with the world’s leading industry partners and securing additional investments. GTR has already invested in more than 55 game companies in the United States, the UK, Brazil, France, Germany, Finland, Sweden, Italy, Korea, Malaysia, and more.