GEM Capital

GEM Capital is a private equity and venture capital firm established in 2017 and headquartered in Limassol, Cyprus, with additional offices in Paphos and Dubai. The firm specializes in growth capital investments, focusing primarily on the gaming and entertainment sectors, as well as new materials and projects involving virtual reality. GEM Capital has emerged as a leading investor in the gaming industry, recognized for its significant contributions and influence in the sector, particularly within Cyprus, where it is the largest gaming-focused investor. The company actively supports promising startups with scalable business models and international ambitions, managing a diverse portfolio that includes over 25 projects from Europe, the US, and Israel. GEM Capital's reputation is further solidified by accolades such as its nomination for Investor of the Year at the MENA Games Industry Awards 2024 and being named Best Investor of 2021 by prominent industry media. Through its extensive networks, GEM Capital continues to foster innovation and growth in the gaming and entertainment landscapes.

Alexander Bykhovskiy

Partner

Kirill Gurskiy

Managing Director

Roman Gurskiy

Managing Director

Past deals in Entertainment

Skich

Pre Seed Round in 2025
Skich is a software company that develops mobile applications aimed at streamlining the process of discovering new games on smartphones. Its flagship product offers users tools to filter through various game options based on their interests, allowing them to find titles more suited to their preferences swiftly and efficiently. Additionally, Skich enables gamers to follow friends and other players with similar gaming tastes.

Eschatology Entertainment

Series A in 2024
Eschatology Entertainment is a Cyprus-based game development company that specializes in creating immersive hardcore gaming experiences. The company focuses on developing games set in apocalyptic themes, integrating storytelling and philosophical elements to enhance the gameplay. By providing a unique living game world, Eschatology Entertainment enables players to engage in narrative-driven adventures that challenge their perceptions and skills.

Game Garden

Venture Round in 2024
Game Garden Limited, founded in 2009 and based in Nicosia, Cyprus, is a prominent developer of mobile and social network games. With a player base exceeding 25 million globally, the company focuses on creating family-oriented games and has achieved significant success in its market segment, earning high ratings from users. Game Garden's portfolio includes a variety of game categories, such as puzzle, role-playing, and casual games, reflecting its commitment to providing diverse entertainment options. The company is recognized for its exceptional programming, art, and game design capabilities, supported by a team of highly skilled professionals. Its games consistently rank at the top of major platforms, including the Apple App Store, Google Play, and Amazon Store.

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
Eschatology Entertainment is a Cyprus-based game development company that specializes in creating immersive hardcore gaming experiences. The company focuses on developing games set in apocalyptic themes, integrating storytelling and philosophical elements to enhance the gameplay. By providing a unique living game world, Eschatology Entertainment enables players to engage in narrative-driven adventures that challenge their perceptions and skills.

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 software company that develops mobile applications aimed at streamlining the process of discovering new games on smartphones. Its flagship product offers users tools to filter through various game options based on their interests, allowing them to find titles more suited to their preferences swiftly and efficiently. Additionally, Skich enables gamers to follow friends and other players with similar gaming tastes.

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
Game Garden Limited, founded in 2009 and based in Nicosia, Cyprus, is a prominent developer of mobile and social network games. With a player base exceeding 25 million globally, the company focuses on creating family-oriented games and has achieved significant success in its market segment, earning high ratings from users. Game Garden's portfolio includes a variety of game categories, such as puzzle, role-playing, and casual games, reflecting its commitment to providing diverse entertainment options. The company is recognized for its exceptional programming, art, and game design capabilities, supported by a team of highly skilled professionals. Its games consistently rank at the top of major platforms, including the Apple App Store, Google Play, and Amazon Store.
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