Investment & Fund Management

The European Investment Fund (EIF) has committed 225 million Swedish kronor (approximately €20 million) to Behold Ventures, a venture capital fund based in Sweden, aimed at supporting early-stage game developers across the Nordic region, specifically in Denmark, Finland, Iceland, Norway, and Sweden. This investment is crucial as the Nordic gaming industry, recognized for its dynamism and innovation, faces significant challenges in accessing early-stage funding necessary for the growth of the next generation of game creators.

Behold Ventures, founded in 2021 by industry veterans, plans to invest in up to 23 European game studios. The EIF's commitment is expected to help Behold Ventures attract additional financial backers, with a target fund size of SEK 500 million. Since its first closing in November 2022, Behold Ventures has already invested nearly SEK 152 million in 18 game studios across the Nordic countries and the UK. This partnership is seen as a transformative step for Nordic game development, enhancing the region's global competitiveness and fostering new talent and innovative ideas.

The EIF's pledge is part of the European Commission’s MediaInvest programme, which aims to bolster the audiovisual sector, including video games, by addressing financing gaps that hinder growth. The investment not only supports the gaming industry but also contributes to the broader digital transition, promoting innovation in data and communication technologies while enhancing cultural and creative sectors.