The Games Fund wants to create a more inclusive ecosystem for women gamers.
Gaming, once considered merely a children’s activity, has now grown into a dominant force in the global entertainment industry. This shift from a niche interest to a major player has changed perceptions and unlocked vast investment potential, particularly in emerging markets.
On a global scale, the gaming market is forecasted to reach $282.3 billion this year and expand to $363.2 billion by 2027, with an audience of 1.472 million users.
In the MENA region, the gaming industry is estimated to be worth $6.34 billion in 2024, projected to grow to $10.69 billion by 2029, representing an 11.02% increase. This growth is primarily fueled by greater access to technology, a youthful population, rising disposable incomes, and the availability of high-speed mobile internet and gaming hardware. As a result, the gaming industry in MENA is flourishing. According to Statista, the three largest gaming markets in MENA—Egypt, the UAE, and Saudi Arabia—are expected to reach nearly 80 million users across consoles, PCs, and mobile platforms by 2027.
The Games Fund
The Games Fund In this fast-paced environment, The Games Fund (TGF) was established. Created by industry experts Ilia Eremeev and Maria Kochmola, who recognized the gaming industry’s potential for rapid growth, the $50 million venture capital fund has offices in New York and Cyprus, focusing on early-stage games and gaming tech companies.
A core element of The Games Fund’s strategy is its dedication to promoting gender diversity in an industry that has traditionally catered predominantly to men.
A recent Deloitte report highlights that women remain significantly underrepresented and underserved within the gaming industry.
“Championing female representation in the industry is essential, particularly in leadership and management roles. It mirrors the diversity of our gaming community and enhances gaming content and perspectives, which are vital for innovation and staying relevant in a diverse market,” explains Maria Kochmola, co-founder of The Games Fund, in an interview with Inc. Arabia.
Kochmola, who started her career in venture capital, is part of a small group of female fund managers in the gaming industry. Before co-founding The Games Fund, she was involved in over 35 gaming investment deals and six acquisitions at MyGames (MGVC), a global gaming investor, where she contributed to building MGVC’s global reputation in corporate gaming investments.
It was during her time at MGVC that Kochmola met her co-founder and managing partner, Ilia Eremeev.
“Our background in these growing markets has uniquely equipped us to seize these opportunities, choosing to launch a fund a natural extension of our careers,” says Eremeev.
By supporting female-led gaming startups and backing projects that demonstrate diversity in leadership and team makeup, The Games Fund aims to create an inclusive environment that fosters innovation. The fund is a strong advocate for diversity, with its founders believing that diversity is crucial to unlocking the full potential of the gaming industry.
“Our portfolio, consisting of around 20 companies, reflects our genre-neutral investment approach. We invest in a wide range of game genres, including mid-core, casual, and hardcore games, spanning categories like strategy, real-time strategy (RTS), shooters, time management, and horror,” Kochmola states.
MENA Focus
With strategic priorities that include Eastern Europe, Turkey, and the Middle East, The Games Fund leverages regions that are primed for growth in the gaming sector. In addition to offering cost-effective development opportunities, these regions provide unique cultural insights that enhance creativity and innovation in game development.
Kochmola and Eremeev note that the Middle Eastern gaming market is a key growth area, with Saudi Arabia and the UAE quickly emerging as global gaming hubs.
“Our research shows that gaming is becoming increasingly integrated into local cultures, further boosting the industry’s growth potential. These factors align well with our investment strategy, which focuses on regions positioned for significant economic and cultural impact within the gaming sector,” Eremeev explains.
Earlier this month, Saudi Arabia held the first Esports World Cup and announced plans to host the Esports Olympics next year. The kingdom has developed an Esports and Gaming Strategy as part of Vision 2030, which seeks to diversify its economy away from oil.
Earlier this year, the Dubai Future Foundation launched the Gaming Visa under the Dubai Program for Gaming 2033, which aims to position the city among the top 10 gaming hubs globally and create 30,000 new jobs in the industry.
