"The mobile game industry in Southeast Asia is the fastest growing region globally, and surpassed US$1 billion in 2014, growing at a very healthy CAGR of 48% from 2015 to 2019. Revenue is still largely attributable to the more mature markets in the region such as Singapore and Malaysia but Indonesia and Thailand are quickly expanding and the least developed markets such as Laos, Cambodia and Myanmar are still in the nascent growth phase."
Clinton Foy joins the firm as managing director with gaming expertise.
Jeff Anderson | GSN's insight:
"The fund’s establishment shows there’s still interest in investing in Southern California startups and gaming enterprises.
The firm already has $50 million under management from two previous funds. Brian Garrett, the cofounder and managing director of Crosscut Ventures, said in a statement that the firm had the good fortune to have strong interest from a good group of institutional limited partners for the third fund. He said that was a testament to the firm’s previous success and to the entrepreneurs it has backed over the past eight years."
2015 Will See Increase in Mobile Gaming Revenues Mobile Marketing Watch A recent study by Newzoo went so far as to indicate that mobile gaming revenues will shoot up by 42% over the next year, with almost $41 billion in revenues by 2017.
With 1.35 billion active monthly users, Facebook continues to be the world’s largest social network by some margin, but when it comes to picking up new users, it appears to have reached a saturation point.
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