MTG announces a $30M fund seeking to invest in gaming startups and complement its M&A strategy.

MTG, a Stockholm, Sweden-headquartered digital entertainment group, announced in a press release the launch of a gaming investment fund totalling $30M.

The new fund is part of the company's ongoing transformation, as digital sales reached 34% of the total sales for the year, and will act as a complement to MTG's acquisition strategy.

The investment fund will target minority positions in high potential US and European-based online gaming businesses, looking to invest in 5 to 10 companies each year, for the next three years. MTG is looking for early stage startups that bring strategic value in areas of online gaming, esports, and gaming-focused virtual and augmented reality.

In 2017, MTG acquired Kongregate for $55M and increased its ownership in InnoGames.