European Funding Fund pledges $20m to bolster Nordic recreation enchancment

The European Funding Fund (EIF) has pledged $21 million to bolster recreation enchancment in Denmark, Finland, Iceland, Norway, and Sweden.

The funds – awarded to Swedish company Behold Ventures – can be utilized to assist early-stage recreation builders all through the Nordic space.

Gaming all through the EU generated $25 billion in earnings in 2022, and is “rising faster than many alternative industries.”

Utilizing larger than 75,000 people in 5,000 game-development and publishing studios all through the EU, the EIF said the funding is required to “fill financing gaps to maintain up world competitiveness.”

Behold Ventures was primarily based in 2021. Given that fund’s first closing in November 2022, it has invested nearly $15m in 18 recreation studios in Denmark, Finland, Iceland, Sweden, and the UK.

“We’re thrilled to affiliate with EIF on this important funding,” said Behold Ventures affiliate Magnus Kenneby.

“Its assistance is a recreation changer for Nordic recreation enchancment. It permits us to hurry up our mission of nurturing and funding the brightest experience in recreation enchancment, solidifying the Nordics’ place as a worldwide gaming powerhouse.”