Russian MMO developer receives $1.86m investment

Appsindep, a developer and publisher of online games, has received a $1.86m invest from TMT Investments.

Appsindep is based in Russia, and aims is to become a leading online game developer and publisher, initially in its home country, and then internationally. The company primarily develops MMOs based on its proprietary game engine and development platforms.

TMT invests in high-growth, internet-based companies across a variety of sectors with the potential to become multinational businesses.

“TMT’s investment in Appsindep is a further step in gaining exposure to the online gaming market, having already invested in Berryman Capital Group, an online games developer for social networks,” Alexander Selegenev, executive director of TMT Investments.

“This market is highly competitive, which places even greater importance on the quality of the team, product, and marketing execution. We believe that our investment will help Appsindep to expand more quickly into the fast growing mobile segment and launch a number of new high quality products in Russia and internationally.”

TMT has acquired 146 newly issued and 267 existing class-B ordinary shares representing 19.24 per cent of Appsindep’s fully diluted equity capital, for an aggregate consideration of approximately US$1,858,685.

TMT has a portfolio of internet companies, which includes Creat Studios, Tracks and favim.com and more than 15 others.