Rokit launches $50 million indie game development fund

The Rokit Group of Companies has launched Rokit Games, a $50 million game development fund, to support independent developers of mobile and console games.

Rokit, which makes smartphones, will act as both an angel investor and gap investor for startup game developers in return for equity. The Los Angeles company is encouraging developers to send pitches in hopes of getting up to $500,000 investments for their games.