GEM Capital

Founded in 2017 and headquartered in Paphos, Cyprus, GEM Capital is a prominent venture capital firm specializing in gaming investments. With a focus on growth capital and A-B rounds, the firm invests globally, supporting promising projects with international ambitions and scalable business models.

Alex Bykhovskiy

Partner

Kirill Gurskiy

Managing Director

Roman Gurskiy

Managing Director

Past deals in Entertainment

Skich

Pre Seed Round in 2025
Skich is a mobile app store focused on gamers, offering an extensive collection of games across 240 genres. It facilitates game discovery through user-generated content, expanded categorization, and social features, enabling users to find and download games up to five times more than other platforms.

Eschatology Entertainment

Series A in 2024
A Cyprus-based game developer specializing in immersive hardcore experiences within a unique living game world, featuring apocalyptic themes and narrative-driven gameplay.

Game Garden

Venture Round in 2024
Founded in 2009, Game Garden is a leading developer of family-oriented mobile and social network games. With over 25 million players worldwide, the company consistently ranks high on Apple App Store, Google Play, and Amazon Store. Known for exceptional programming, art, and game design, Game Garden offers a wide range of genres including puzzle, role-playing, and casual games.

VEA Games

Venture Round in 2024
VEA Games is an independent game studio focused on developing engaging and sustainable games for multiple platforms. The company is recognized for its project, Nikoderiko: The Magical World, which has garnered multiple awards, including Excellence in Visual Art at the DevGAMM Awards 2020. Staffed by veterans of the gaming industry, VEA Games brings expertise from notable titles like Allods Online and Skyforge to its projects. The studio emphasizes the importance of connecting people through gaming, creating prototypes, and testing concepts with target audiences to enhance social experiences, allowing users to enjoy leisure time with friends.

Sad Cat Studios

Venture Round in 2023
Sad Cat Studios is a game development company focused on creating cinematic retro-futuristic action-thriller games. The company aims to provide players with immersive experiences through its platform, which features action and AI-driven games. By blending engaging narratives with retro-futuristic aesthetics, Sad Cat Studios seeks to captivate gamers who appreciate both action and storytelling in their gameplay.

Eschatology Entertainment

Seed Round in 2022
A Cyprus-based game developer specializing in immersive hardcore experiences within a unique living game world, featuring apocalyptic themes and narrative-driven gameplay.

Hypemasters

Series A in 2022
Hypemasters, Inc. is a game development studio established in 2019, headquartered in Dover, Delaware, with additional offices in Saint Petersburg, Russia, and London, United Kingdom. The company is dedicated to designing and developing mobile games across various genres, aiming to create engaging gaming experiences for a global audience. With a distributed team, Hypemasters focuses on producing genre-defining titles that resonate with players around the world.

Skich

Pre Seed Round in 2022
Skich is a mobile app store focused on gamers, offering an extensive collection of games across 240 genres. It facilitates game discovery through user-generated content, expanded categorization, and social features, enabling users to find and download games up to five times more than other platforms.

VEA Games

Pre Seed Round in 2021
VEA Games is an independent game studio focused on developing engaging and sustainable games for multiple platforms. The company is recognized for its project, Nikoderiko: The Magical World, which has garnered multiple awards, including Excellence in Visual Art at the DevGAMM Awards 2020. Staffed by veterans of the gaming industry, VEA Games brings expertise from notable titles like Allods Online and Skyforge to its projects. The studio emphasizes the importance of connecting people through gaming, creating prototypes, and testing concepts with target audiences to enhance social experiences, allowing users to enjoy leisure time with friends.

Game Garden

Seed Round in 2020
Founded in 2009, Game Garden is a leading developer of family-oriented mobile and social network games. With over 25 million players worldwide, the company consistently ranks high on Apple App Store, Google Play, and Amazon Store. Known for exceptional programming, art, and game design, Game Garden offers a wide range of genres including puzzle, role-playing, and casual games.
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