Social game publisher and developer 6waves Lolapps is announcing a $10 million fund today for social and mobile game developers in need of extra money to get games up and running.
The “6L Fund” comes with a publishing contract under 6waves Lolapps, giving recipients access to the company’s network of 39.5 million monthly active users on Facebook across all its published and in-house developed apps. The concept behind the fund is two-pronged: to support fledgling developers in the social and mobile space, and to bring new games into the 6waves Lolapps network of games.
Speaking to Inside Network, 6waves Lolapps SVP of Publishing Jim Ying explains that the 6L Fund is a natural extension of the company’s business model. Publishers already cover a lot of costs on behalf of developers, making back their money on revenue share agreements. With up-front costs in social and mobile games rising, it makes sense for 6waves Lolapps to provide more monetary support at the beginning of its relationship with a developer. This is why the 6L Fund is specifically targeted at developers that don’t already have a publishing relationship established with 6waves Lolapps or other social and mobile game publishers.
Ying was keen to point out that the 6L Fund is 6waves Lolapps’ tentative first step into the mobile games business. To date, the company has made most of its money on Facebook with games like Ravenwood Fair and Mystery Manor. It also publishes games on Japan’s Mixi social network and is currently in talks with Tencent in China to extend publishing there. Ying says about Asia makes up about one-third of its audience.
As for outright acquisitions of mobile developers, Ying says 6waves Lolapps is “always looking” for opportunities and that the company would “definitely consider it” if the right mobile developer came along. 6waves Lolapps is only two months into its merger between publisher 6waves and developer Lolapps and not quite three months past the point where it acquired the Fliso Flash-based social game engine. The company scored a $35 million round of funding led by Insight Venture Partners with participation from Nexon at the beginning of August.
Those interested in applying for the 6L Fund can go here.