Noble launches video game fund

Fund4Games is intending to put up to £25m to work on game development in the UK.

Noble Fund Managers, part of UK investment bank Noble Group, is launching a venture capital fund specifically aimed at investing in firms developing PC and console games.

The Fund4Games fund, based in Edinburgh, will look to make investments of between £250,000-£1m on a project-by-project basis. The firm is hoping to exploit the potential for high returns on intellectual property rights. The UK is regarded as one of the key countries for computer game development, with games such as Tomb Raider and Grand Theft Auto having been developed by UK teams.

The fund is set for an initial closing at the end of June 2002, with a final closing in September. The target fund size will be £25m and Noble says that it will be used to capitalize game development throughout the UK. The fund is aimed at
established developers and publishers and will initially target console and PC games.

Charles McMicking, director at Noble Fund Managers, said he believed the fund would ensure that projects move quickly from the drawing board to implementation, because of the ‘well-defined exit strategy’ of successful computer games.