Investment capital and management company Interactive Gaming Ventures is teaming up with Epic Games to fund independent game developers creating promising titles in Unreal Engine 4, IGV announced on Wednesday.
IGV, led by former PlayStation president and CEO Jack Tretton, plans to invest in two to three experienced indie teams per year. It will give $1 million to $5 million per project over the next seven years, and help fund milestone deliverables, along with managing promotion and distribution. Studios that take money from IGV will still control their IP and creation process, the company said. IGV typically focuses on teams looking to ship to PC first, with the option of porting their games to consoles and mobile as well.
“We are looking to provide exceptional independent teams building games with Unreal Engine the support structure, cash infusion, marketing resources, and relationships that will help them achieve incredible financial returns,” Tretton said.
Epic Games, which owns and licenses Unreal Engine, said this partnership falls perfectly in line with its philosophy that it succeeds when developers succeed. “From programs like Unreal Dev Grants to one-to-one conversations where we connect teams with strategic opportunities, we have an honest motivation to help our licensees get ahead,” said Joe Kreiner, head of Unreal Engine business development at Epic. “We couldn’t be happier to make it even easier for Interactive Gaming Ventures to get behind Unreal indies.”
Studio Wildcard CEO Doug Kennedy, who is also a part of IGV, said Epic has been an incredibly supportive partner over the years. Studio Wildcard game “Ark: Survival Evolved” is built on Unreal Engine. It has sold more than 13 million copies across various platforms.
“‘Ark: Survival Evolved’ started off as an independent game released in early access and grew to be a phenomenon beyond our wildest dreams, thanks in part to the Unreal community and Epic’s support,” Kennedy said. “This is a foundation of stability and massive potential, and we’re looking to build on it in collaboration with even more Unreal Engine developers.”