New initiative backs indie developers building premium PC and console games across all genres with project financing tailored to modern game development environment
Vgames, the games-focused venture capital fund led by Eitan Reise and Daniel Mironov, announced that it has raised $10 million for its first Indie Fund. Vgames has established itself as one of the most active funds in the gaming sector, having invested in over 50 companies globally since its launch in 2020. The fund maintains flexibility in its investment structures, invests across all platforms, and supports companies from the earliest stages through to growth rounds.
The Indie Fund introduces a project-based financing model with simple, founder-friendly terms in exchange for a share of a game’s revenue. Designed as an alternative to traditional equity financing and publisher-led structures, the fund gives developers flexible capital tied directly to the commercial performance of their games. The fund is focused specifically on premium PC and console titles across all genres, supporting studios building commercially ambitious games without relying on free-to-play monetization models.
Unlike traditional publishers, vgames does not control a studio’s product roadmap, creative direction, or go-to-market decisions. Studios retain full independence throughout development and publishing, including complete ownership of their intellectual property. The fund is designed for teams that already demonstrate strong distribution strategy and execution capabilities and are looking for capital partners rather than publishing services.
Vgames believes this model is increasingly better suited for modern PC and console development, where smaller teams can now build commercially successful titles with greater speed and efficiency than ever before thanks to advances in development tools and production technology.
In recent years, independent studios have produced some of the industry’s biggest breakout successes with comparatively lean teams and modest budgets, highlighting both the opportunity and the growing need for more founder-aligned financing models.
Daniel Mironov, Partner at vgames said:
“Independent developers are building some of the most important games in the industry today. Technology is allowing smaller teams to compete at a level that simply wasn’t possible a few years ago. But financing models haven’t evolved at the same pace. We believe studios need funding structures that match the realities of modern game development – flexible capital that supports growth without forcing founders into unnecessary dilution or loss of control.
We’re backing studios, not taking control of their games. Founders keep creative independence, publishing flexibility, and ownership of their IP while gaining a financing partner aligned with the success of the game.”
The fund will support projects across PC and console, with a focus on studios demonstrating strong creative direction, distribution skills, market validation, and strong global commercial potential.
Lior Elovitch, Investor at vgames said:
“In recent years, we’ve seen lean independent teams create breakout successes by building direct relationships with players and earning strong community support. Games today can scale globally with leaner teams, faster production cycles, and more efficient distribution than ever before. That creates opportunities for a new category of studios, and a need for financing models built specifically for them.
We’re particularly excited to support teams that already understand how to bring games to market successfully. The best independent studios today are highly capable not only in development, but also in distribution, community building, and commercial execution.”
Vgames is one of the most active gaming investors globally, backing category-defining founders from inception. With over $400 million in assets under management and top performance across funds, vgames is a multistage investor providing both equity and non-dilutive growth financing to companies shaping how millions play, connect, and create across gaming, interactive entertainment, and consumer experiences.
Headquartered in Israel, vgames has invested in nearly 50 companies, including SuperPlay, Innplay Labs, Candivore, 1047 Games, Starform, GOAT Studios, and Pocket Haven, among many others.
The Indie Fund is expected to begin deploying capital immediately, with initial investments already in active discussions.
