Frumtak, an icelandic investment fund, has purchased shares in Gogogic ehf. Headquartered in Reykjavík, Iceland, Gogogic was created by a group of passionate gamers to build and introduce new and innovative social games on a variety of platforms including social networks, the iPhone, iPad and iPod Touch. The company’s mission is to grow and become an exciting, influential provider of innovative and emerging gaming experiences while crossing platforms to enhance each release.
“Gogogic is among the largest gaming companies in Iceland and this is an interesting investment option for Frumtak,“ said Dr. Eggert Claessen, CEO of Frumtak. “Gogogic has achieved excellent results in the design and production of video games, while being in the forefront of new business associations withing the Icleandic gaming industry. We expect much from this company and it will be interesting to see it succeed in selling their games, which have already received good reviews and awards. With the investment from Frumtak, the company has many great opportunities ahead.“
“Clearly, this investment will enable the company to properly release their products on the market and build the required system for external marketing and communications. The investment is further support to game development and we are very thankful to have Frumtak on board at this time,“ said Jónas Antonsson, CEO of Gogogic.
Frumtak is owned by the New Business Venture Fund, which is comprised of three banks and six pension funds. Frumtak invests in innovative firms that show promise for growth and expansion. The main goal of this fund is to help build a powerful company that can be a leader in its field and quickly bring returns to investors.