VGames has announced that it has raised $30 million for Israel's first venture capital fund focusing on investments in the games sector. The fund has been founded by Eitan Reisel, who was formerly head of Google Israel's gaming sector. Reisel plans raising more money and aims to reach $40 million. The fund will invest in early stage startups in the field of games. The fund's investors include Viola Ventures. RELATED ARTICLES Insight buys stake in Israeli co Moon Active for $125m Playtika plans Wall Street IPO at $10b valuation - report Reisel told "Globes," "Historically there have been huge games companies here for example in the field of casual games - Moon Active, Playtika, ironSource and more. In recent years Israel has become a power in the field with companies worth billions of dollars. There are many founders going into this field and we want to give them some air to breathe because ultimately it takes time to develop a game. The reason that a dedicated fund is needed is that an investor must understand this world and it's not an area where you would just want to invest in one or two companies." To date VGames has made four investments and plans investing in 15-20 companies in Israel and Eastern Europe. Published by Globes, Israel business news - en.globes.co.il - on July 16, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020
