MyGames grabs minority stakes in three studios for $3 million

MyGames has purchased minority stakes in three studios for a combined $3 million. 

The cash was split between Tworogue Games, WideView Games, and VOX Studio. As part of the investment round, MyGames has the option to purchase a controlling stake in all three companies further down the line.

Tworogue is a Moscow-based studio that's currently developing an upcoming mid-core freemium RPG for mobile devices. WideView, meanwhile, is headquartered in Minsk and created AR title Tamadog, which was named Apple's Game of the Year in the Tech & Innovation - AR category in Russia.

Finally, VOX is best known for creating the VOX app for voice dating. The company, also located in Moscow, has attracted millions of users to its novel dating app since being founded in 2020.

MyGames invested the cash through its Venture Capital division, and said it hopes all three deals can help diversify its portfolio.

"We look at the market as a whole and invest in studios that work in genres with high reach and revenue potential," said Nikita Matsokin, executive producer at MyGames Venture Capital. "At the same time, we specifically focus on genres that we do not yet have in the MyGames portfolio, which could significantly expand our expertise."

MyGames has invested in a number of studios this year, and most recently sunk cash into hyper-casual studio Mamboo Games and Spanish developer The Breach Studios.