MY.GAMES Venture Capital | Game World Observer

Industry News December 20, 2021

Pictolabra lays off entire staff. Management blames MGVC. MGVC denies its involvement in studio’s closure

All 30 employees have been laid off at mobile developer Pictolabra. The studio’s management seems to lay the responsibility on MGVC, an investment division of MY.GAMES, which has pulled the funding Pictolabra relied on. The fund, however, controlled less than 1% of the company and claims it had no say in the matter, while the studio knew about the termination of funding well in advance.

MY.GAMES Venture Capital invests $3 million in three new studios

MY.GAMES Venture Capital, the investment arm of MY.GAMES, has invested in three studios: VOX, Tworogue Games, and Wideview Games. The total investments in the three studios amounted to around $3 million. In all three deals, MGVC acquired minority stakes in the studios with options to purchase control later.

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Pictolabra lays off entire staff. Management blames MGVC. MGVC denies its involvement in studio’s closure

MY.GAMES Venture Capital invests $3 million in three new studios