Boosting Nordic Game Development: Significant Investment from European Investment Fund

The European Investment Fund (EIF) has made a substantial commitment to enhancing the game development sector in the Nordic countries. A financial injection of $21 million will be directed towards early-stage game developers in Denmark, Finland, Iceland, Norway, and Sweden. This initiative aims to bridge financial gaps and bolster the region's competitive edge on the global stage. The chosen recipient of this funding is Behold Ventures, a Swedish firm dedicated to fostering innovation within the gaming industry.

Behold Ventures has already demonstrated its dedication to nurturing talent since its establishment in 2021. Following its initial closing in November 2022, the company has allocated nearly $15 million to support 18 game studios across several countries, including those in the Nordics and the UK. Magnus Kenneby, a partner at Behold Ventures, expressed enthusiasm about this partnership with EIF. He highlighted that such support is pivotal for accelerating the growth and solidifying the Nordic region's reputation as a leader in game development.

The gaming industry within the European Union has been experiencing remarkable growth, generating $25 billion in revenue in 2022 and expanding faster than many other sectors. With over 75,000 individuals employed across 5,000 studios in the EU, the investment by EIF underscores the importance of maintaining this momentum. It not only strengthens the economic landscape but also promotes innovation and creativity, ensuring the Nordics remain at the forefront of the global gaming community.