Frumtak, a united investment fund run by Icelandic pension funds and banks, has confirmed that it has bought shares in the Icelandic computer games maker Gogogic for ISK 150 million (USD 1.2 million).
A statement reveals that Gogogic specialises in smaller games and the creation of multimedia for the internet. Eggert Claessen, the head of Frumtak, said that the new investment will help Gogogic to improve its marketing efforts overseas.
Gogogic is currently best known for its Vikings of Thule game which is very popular on Facebook.
Frumtak is run by the New Business Venture Fund, which is supported by six of Iceland’s biggest pension funds and the three biggest banks. The fund invests in innovative companies with good growth and export potential. Companies must already have their products available on the market to be eligible for the fund.
