The funding comes from Rami Ismail of Vlambeer, who has since stopped, Hidden Folks maker Adriaan de Jongh and Derk de Geus, chairman of the Dutch Games Association. In addition to money, the fund also offers advice and mentorship to participating game makers.
Up to 150,000 euros per project is available from the fund. In exchange for the money, the investors ask for a portion of the turnover “for a limited time”. They do not claim ownership rights or control over the projects.
At least a prototype
Each project is discussed by the investors, Midgame Fund writes on its website. Companies only receive money when enough investors are on board to finance the requested amount.
Midgame Fund requires participating companies to have at least one prototype ready. Also, every company must have an employee who takes care of marketing and finance.
Most Dutch game makers look abroad for investments, and recent Dutch game successes such as Pine and Deliver Us The Moon were linked to foreign publishers.
Interest groups and game makers have long expressed their concerns about the shortage of investors and government subsidies in their own country, which makes game development difficult, especially for start-ups. The Midgame Fund “wants to lower the threshold for financing”, De Jongh writes in a press release.
The Dutch game industry had 575 companies three years ago, according to the four-yearly Games Monitor survey. Together, these companies accounted for 225 to 300 million euros in turnover per year.