Berlin startup HitFox turns incubator – introducing HitFox Games Ventures2012-07-20 5
Berlin- and San Fran-based games distributor HitFox today moved into the incubation space – announcing HitFox Games Ventures, which will offer six-figure seed funding for video game sales and distribution businesses.
HitFox, founded in May 2011 by Jan Beckers (CEO of HitFox Games Ventures – pictured right), Hanno Fichtner, Tim Koschella and Ruben Haas in partnership with Team Europe, originally specialised in offering deals on online, mobile and console games before adding performance marketing. That aspect strengthened with the acquisition of Germany’s biggest game marketing network Chili’s Ad2Games in February.
Today’s announcement is pitched as a way to leverage HitFox’s expertise, resources and network to support other games distribution founders – and turn a profit at the same time.
The new incubator aims to acquire or establish at least two businesses per year. So far, the portfolio includes HitFox Ad2Games, HitFox Game Deals and two other startups in stealth mode.
General-purpose incubators still dominate in Germany but there seems to be a trend away from this, with Deutsche Post-backed Nugg.ad recently unveiling a new big data business incubator in Berlin. HitFox stands out from Nugg.ad and Deutsche Telekom’s new incubator hub:raum in that it’s a startup-turned-incubator. HitFox now has 56 employees, 100 game publishers as clients and expectations of seven-figure monthly turnover – not bad after just over a year in operation – but it’s still not quite breaking even (that’s expected later this year).
HitFox’s investors include Holtzbrinck Ventures, the Tengelmann Group, Hasso Plattner Ventures, Kite Ventures and Digital Pioneers.