VC fund with presence in Cyprus invests $1.5 million in games studio

ROAR Games, a new independent games studio focused on original game development, has announced that it has secured $1.5 million from The Games Fund (TGF), a specialist early-stage VC fund with offices in New York and Cyprus.

It should be noted that The Games Fund, which invests in innovative early-stage games and game tech companies, was founded by games industry veterans, and holds the largest gaming portfolio in Eastern Europe and Cyprus.

In addition, it is recognised as one of the most prominent early-stage gaming investors by Investgame.net and Drakestar partners.

According to the official announcement, the investment will “fuel ROAR Games’ development of its first title, Tenet of the Spark, which will bring its vibrant art style and third-person action to PC and console”.

Tenet of the Spark tells the story of a heroic young boxer who gains an incredible ability to perceive the world through the powers of his ancestors, helping him battle through a criminal underworld.

At the heart of the game is a unique world-switching mechanic which empowers players to seamlessly jump between immersive settings inspired by Ancient South American and Viking civilisations.

Each environment comes with its own striking visuals and sounds, and instantly alters the mechanics of melee combat and NPC behaviour.

Launched in 2023, ROAR Games is the brainchild of the founders of ZHEESHEE, an established CGI production studio with a track record of working with My.Games, Nexters, PUBG and Dota 2.

It has a 30-strong global team across the US, a major hub in Tbilisi, Georgia, and bases in Europe and Asia.

The inspiration for Tenet of the Spark was a short animated movie created by the ZHEESHEE team, ‘The Spark’, which achieved viral attention.

This was followed by the release of a gameplay concept in March 2023 which has received tens of millions of views across X (Twitter) and TikTok.

Artem Shcherbakov, Founder and CEO of ROAR Games, said that he is “delighted to welcome The Games fund as our first investor”.

“We were impressed by their human approach and willingness to buy into our team’s vision for an experience and an IP which can transcend the boundaries of gaming,” Shcherbakov said.

He also noted that “Tenet of the Spark has already captured the imagination of millions of potential players around the world and the community’s reaction made us realise that a vibrant, energetic story could get a new life in the form of a game”.

Meanwhile, Ilya Karpinskiy, Co-Founder and General Partner of The Games Fund, said that “ROAR Games is a natural fit for our approach of investing in people and content which can shape the future of gaming, even if they don’t have a traditional gaming background”.

“With their animation skills it’s clear the team can create striking visuals, but we were also able to get a feel for the crunching multi-civilisation melee combat that will make ‘Tenet of the Spark’ a truly memorable experience,” Karpinskiy explained.

“In a world of live service giants, there’s a clear opportunity for beautifully crafted AA experiences which push the creative envelope to build new cross-media IPs,” he added.

The announcement concluded by noting that The Games Fund’s inaugural fund raised $50 million to invest in gaming companies and founders from emerging markets in Central and Eastern Europe, such as Obelisk Studio, KEK Entertainment, Jarvi Games, and Red Rover Interactive.