GAMEVIL Partner Fund to Invest $10M USD in Developers

GAMEVIL is fast becoming the EA of mobile games. I’m not saying that they are swallowing up developers, but the amount of money that they are about to spend, which is to the tune of USD 10 million, to create partnerships with external developers…that’s no chump change. And there’s one more thing to note, to be able to come up with so much internal funds just shows that their games are doing really really well.

Check out the press release below to find out what they want to do with that amount of money:

GAMEVIL Partner Fund to Invest $10M USD in Developers

LOS ANGELES, CA — June 29th, 2011 — GAMEVIL, a leading mobile game publisher and developer, announced it will invest $10 million in creating various forms of partnerships with external developers as it looks to strengthen its global reach and lineup of quality smartphone game titles. The internally-sourced fund marks the company’s strong commitment to a vision of rewarding growth and meaningful external partnerships.

As part of the initiative, GAMEVIL has recently acquired exclusive publishing and partial intellectual property rights of the ‘Cartoon Wars’ series, including titles such as Cartoon Wars, Cartoon Wars Gunner and Cartoon Wars 2 which have garnered a significant global fan base over time.

Since the end of last year, GAMEVIL has already partnered with more than 10 different external developers and games in varying forms of investments and global publishing agreements. The expanded library of successful titles from all genres and platforms include games like Air Penguin, Chalk n’ Talk, Colosseum, KAMI RETRO, TouchMix, and Train City. Of note, Air Penguin has become a hit title reaching the number one spot on Apple’s App Store at its peak.

GAMEVIL has also announced that its social game platform, GAMEVIL Live, will be revamped and rolled out onto published titles in the coming months and begin to tap into a greater audience. The service will leverage a sizable number of users worldwide including fans of in-house hit games such as the ZENONIA and Baseball Superstars series.

“As the market expands with smartphones at its center, partnering with promising and exceptional external developers has become more important,” said Yong Kuk Lee, Chief Financial Officer of GAMEVIL. “By working together with these creative developers and combining GAMEVIL’s understanding of the global smartphone game market, we will carve out success and growth for everyone involved.”

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