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Wargaming Cofounder $50 Million Investment in Mobile Gaming

Wargaming's Nick Katselapov establishes Mika Games with $10M initial funding aiming to invest $50M in mobile game studios, offering growth support and expertise to drive success.

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Eliza Crichton-Stuart

Head of Operations

wargaming mika games

In a bid to enhance the mobile gaming sector, Wargaming co-founder Nick Katselapov has announced the launch of Mika Games, a new gaming investment company. With a hefty $50 million earmarked for investment in mobile game studios, Mika Games has already secured an impressive $10 million in its initial funding round, led by Boston-based venture capital firm Flint Capital.

wargaming mika games

$50M for Mobile Gaming

Based in Nicosia, Cyprus, Mika Games is set to provide both capital and comprehensive growth support to mobile game studios in their soft launch stage. This stage typically involves having a game ready for testing in a single market. The ultimate aim? To turn these studios into self-sufficient entities, primed for scaling from the seed stage, with an eye towards an eventual initial public offering.

Established in 2023, Mika Games boasts a unique proposition in the gaming market. Focusing solely on mobile gaming investments, the company has already made strategic investments in two promising mobile studios: Guli Games and Hot Siberians. These partnerships underscore Mika Games' commitment to empowering ambitious gaming founders worldwide.

Katselapov, drawing from his extensive experience in the gaming industry, particularly with Wargaming, emphasizes the critical role of mobile games as the most accessible and massive form of gaming today. His vision for Mika Games is to leverage this accessibility and mass appeal to fuel growth within the teams the company invests in.

Wargaming Cofounder $50 Million Investment in Mobile Gaming

Addressing Challenges

Mika Games addresses a prevalent challenge in the gaming industry: the dearth of financing and business guidance, often leading to the premature halt of promising projects. Unlike traditional early-stage gaming venture funds, Mika Games selectively invests in established studios with successful game launches. The company then provides hands-on support, covering aspects like business processes, game design, monetization, marketing, and product strategy.

83% of mobile games fail within three years, and a significant factor contributing to this is the lack of financing and business guidance,” said Katselapov, in a statement. “We see a huge market gap here, which presents an immense opportunity that we can capitalize on. Our industry experience as both investors and operators position us well to select talented teams and ambitious games, invest money and effort in their development, gradually building up value and multiplying our chances for break-out success.”

wargaming mika games

Over $111 Billion in 2024

Commenting on the venture, Dmitry Smirnov, partner at Flint Capital, expressed confidence in Mika Games' potential, citing its gaming expertise and well-conceived business model. This sentiment is echoed by the broader gaming market, which anticipates a resurgence in mobile gaming investments, with the market projected to rebound to $111.4 billion in 2024.

Despite the company's ambitious goals, Mika Games adopts a lean approach, currently comprising just three employees. However, with Katselapov at the helm as CEO, backed by Anton Kolkovskiy as investment director and COO, the company is poised for a significant impact in the mobile gaming investment landscape.

Final Thoughts

In the face of challenges, including allegations from the Belarus KGB, Mika Games remains steadfast in its mission to drive innovation and success within the mobile gaming industry. While the specifics of these allegations remain unclear, the company refrains from commenting, focusing instead on its strategic vision for the future.

As Mika Games sets its sights on global investment opportunities across genres, the gaming community eagerly anticipates the transformative impact of this new player in the mobile gaming investment sphere.


NewsInvestments

updated:

April 1st 2024

posted:

April 1st 2024

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