How The Games Fund is Championing Women Gamers

Gaming, once dismissed as a pastime for children, has evolved into a powerhouse in the global entertainment landscape. This transformation from a niche hobby to a leading segment has shifted perceptions and opened up vast investment opportunities in emerging markets.

Globally, the gaming market is projected to reach $282.3 billion this year and grow to $363.2 billion by 2027, with 1,472 million users.

In MENA, the gaming industry is valued at an estimated $6.34 billion in 2024 and is expected to reach $10.69 billion by 2029--a growth of 11.02%. Driven largely by increased access to technology, a growing youth population, and rising disposable incomes coupled with a rapid increase in users, access to high-speed mobile internet, and the availability of gaming hardware, the gaming industry in MENA is booming. In fact, MENA’s three largest gaming markets--Egypt, the UAE, and Saudi Arabia--are expected to have almost 80 million users across various platforms, including consoles, PCs, and mobile devices, by 2027, according to Statista.

The Games Fund

It is against this dynamic backdrop that The Games Fund (TGF) was conceived. Founded by industry veterans Ilia Eremeev and Maria Kochmola who recognized the potential of the gaming industry's burgeoning growth, the $50 million VC game fund has offices in New York and Cyprus and invests in innovative early-stage games and game tech companies.  

A pivotal aspect of The Games Fund's strategy is its commitment to promoting gender diversity in the gaming industry--an industry that has long catered largely to men. 

A recent report by Deloitte finds that women are largely underrepresented--and underserved--in the gaming industry. 

"Supporting and promoting female representation within the industry is crucial, especially in leadership and management roles. This reflects the demographics of our gaming community and enriches gaming content and perspectives, which are crucial for innovation and relevance in a diverse market,” co-founder of The Games Fund Maria Kochmola tells Inc. Arabia.

Maria Kochmola, who began her career at VC firms, represents a significant minority as one of the few female fund managers in the gaming industry. Before co-founding The Games Fund, Kochmola led over 35 gaming investment deals and six acquisitions at global gaming investor MyGames (MGVC), helping to establish MGVC's reputation as a global leader in corporate gaming investments.

It was at MGVC that Kochmola met her co-founder and managing partner, Ilia Eremeev. 

"Our experiences and backgrounds in these emerging markets have uniquely positioned us to tap into these opportunities, making the decision to start a fund a natural progression of our careers," says Eremeev. 

By championing female-led gaming startups and supporting ventures that demonstrate diversity in team composition and leadership, The Games Fund aims to foster an inclusive environment where innovation thrives. The fund actively encourages and supports diversity. In fact, the duo believes that diversity is key to capturing the gaming industry's full potential.

"Our portfolio, comprising approximately 20 companies, reflects our genre-agnostic approach. We invest in a broad spectrum of game types, including mid-core, casual, and hardcore games, spanning genres like strategy, real-time strategy (RTS), shooters, time management, and horror," says Kochmola.

An eye on MENA

With strategic focus areas including Eastern Europe, Turkey, and the Middle East, The Games Fund capitalizes on regions primed for growth in the gaming sector. In addition to offering cost-effective development options, these regions bring unique cultural perspectives to game design, enhancing creativity and innovation in game development.

Kochmola and Eremeev note that the Middle Eastern gaming market is a significant growth area, with countries like Saudi Arabia and the UAE rapidly becoming hubs for the global gaming industry.

"Our observations indicate a strong acceptance and integration of gaming within local cultures, further amplifying the sector's growth potential. These elements align well with our investment philosophy, focusing on regions poised for significant economic and cultural impact in the gaming industry," says Eremeev.

Earlier this month, Saudi Arabia launched the inaugural edition of the Esports World Cup and announced plans to host the Esports Olympics next year. The kingdom has created an Esports and Gaming Strategy as part of Vision 2030, which aims to diversify the economy away from oil. 

Earlier this year, Dubai Future Foundation launched a Gaming Visa as part of the Dubai Program for Gaming 2033. The program aims to position the emirate among the top 10 cities in the global gaming industry and generate 30,000 new jobs in the sector.