| Date | Title | Description |
| 20.03.2026 | GEM Capital Portfolio Hits 5 Million Steam Wishlists with Five Titles in the Top 150 Most Anticipated Games | We are thrilled to announce a massive milestone: the GEM Capital portfolio has officially surpassed 5 million total Steam wishlists. |
| 16.03.2026 | «Being ‘OK’ is the same as being nothing.» | That’s a bold take from Yura Zhdanovich, co-founder of our portfolio company Sad Cat Studios, in his recent interview with EDGE. At GEM Capital, we couldn’t agree more. |
| 13.03.2026 | The legendary Atomic Heart soundtrack is finally coming to vinyl! | To celebrate the release of the game’s 4th and final DLC, the team is dropping something special for fans: the iconic OST pressed on vinyl. |
| 12.03.2026 | Heroes of Might & Magic: Olden Era — Dungeon Faction Official Full Reveal | Dungeon so good, we needed it twice! |
| 11.03.2026 | New Community Feedback video for Heroes of Might and Magic: Olden Era! | No one listens to player feedback quite like our portfolio company Unfrozen. |
| 10.03.2026 | The Eternal Life of Goldman among the top 50 most popular demos at Steam Next Fest! | The Eternal Life of Goldman among the top 50 most popular demos at Steam Next Fest! |
| 05.03.2026 | Atomic Heart: Blood on Crystal launches on April 16 | Our portfolio company Mundfish has just dropped an incredible trailer for the fourth and final DLC of Atomic Heart and announced the official release date. |
| 03.03.2026 | 850,000 WISHLISTS AND 185,000 DEMO PLAYERS!!! | REPLACED, from our portfolio company Sad Cat Studios, continues to deliver outstanding results. |
| 27.02.2026 | Jason Schreier published an article about The Eternal Life of Goldman | How it started vs. How it’s going |
| 24.02.2026 | Unfrozen recently sat down with Jon Van Caneghem | What a treat for Heroes Of Might And Magic fans! Our incredible portfolio company Unfrozen recently sat down with Jon Van Caneghem, the legendary creator himself. |
| 23.02.2026 | Atomic Heart has officially turned three!!! | Time truly flies. It feels like just yesterday we were anxiously counting down the hours before launch, and now we’re celebrating the third anniversary of a project that has become a true milestone for us. |
| 19.02.2026 | The Future of Gaming is Hand-Drawn: Goldman is Here! | We are thrilled to announce that The Eternal Life of Goldman demo is officially LIVE on Steam! Starting today, everyone can step into the breathtaking world crafted by our portfolio company Weappy. |
| 13.02.2026 | We’re excited to see our portfolio company AppMagic take another major step forward | The team has just released their first-ever Mobile Market Landscape 2026 — a nearly 100-slide report packed with charts, data, and in-depth market analysis. |
| 12.02.2026 | The Replaced demo is crushing it! | Yesterday, our portfolio company Sad Cat Studios released the demo for their highly-anticipated game Replaced — and the reception has been nothing short of incredible. |
| 11.02.2026 | Heading to WN Abu Dhabi! | Looking forward to a great day of catching up with the community tomorrow. |
| 11.02.2026 | REPLACED public demo is coming on February 11 | Critics have already shared their opinions, and the feedback is overwhelmingly positive. |
| 09.02.2026 | Are video games art? | A perfect example of this is the recent collaboration between our portfolio company Mundfish and the incredible artist Michèle Ansermet Papadopoulos. |
| 06.02.2026 | 5 Games. Top-150. Worldwide. | Proud to see 5 games from the GEM Capital portfolio in the Top-150 most anticipated titles worldwide! |
| 05.02.2026 | GEM Capital is heading to Abu Dhabi for WN Conference | We will be happy to meet friends, partners, and make new connections there on February 11–12. |
| 05.02.2026 | So proud of the Mundfish team! | Yesterday, we had a fantastic time visiting our portfolio company Mundfish at their Cyprus office |
| 03.02.2026 | Community feedback matters! | Just look at the top comments on YouTube |
| 02.02.2026 | When Legends Build Legends | We’re truly excited to see such an overwhelmingly positive response to the announcement that Jon Van Caneghem, the father of Might & Magic, is joining our portfolio company Unfrozen as Creative Advisor to work on Heroes of Might & M... |
| 30.01.2026 | The Legendary Creator is Back! | We are thrilled to announce that the legendary Jon Van Caneghem, creator of the Might and Magic and Heroes of Might and Magic series, has joined our portfolio company Unfrozen as Creative Advisor on their upcoming title Heroes of Might and ... |
| 30.01.2026 | GEM Capital games on the covers of PC Gamer and Edge! | Just look at this awesomeness that finally arrived at our office! |
| 26.01.2026 | What will define LiveOps in 2026? | AppMagic just dropped a great piece on LiveOps mechanics in Casual games. |
| 23.01.2026 | «Calamity» strikes this spring! | The Atomic Heart DLC #4 teaser is pure atmosphere: storms, fog, and the cold, imposing power of Soviet retro-futurism. Our portfolio company Mundfish is as always nailing it! |
| 21.01.2026 | Games industry predictions for 2026: a make-or-break year for pandemic-era investments | As part of a 2025 retrospective, we had the pleasure of sharing our thoughts with Pocket Gamer alongside our dear Mobile Mavens colleagues on what lies ahead for the games industry in 2026. |
| 20.01.2026 | We shared our New Year’s resolution with PocketGamer.biz | Our advice to fellow founders and creators: Never give up, stay focused on the «why,» and always go all the way! |
| 19.01.2026 | ILL has officially crossed the 1,000,000 wishlists milestone! | Onward and upward! We’re just getting started |
| 16.01.2026 | New Year vibes from our portfolio! | We’re already halfway through January — time flies! 🙂 It’s a great moment to look back and see how some of our portfolio companies celebrated the start of 2026 |
| 15.01.2026 | New Game+ Showcase 2026 | 2026 has only just begun, and the first major gaming showcase is already behind us! |
| 15.01.2026 | We are thrilled to see five projects from our portfolio companies among the top 150 most wishlisted games” | We sat down with Game World Observer to recap our year and look back at some major milestones |
| 19.12.2025 | REPLACED has hit 600k wishlists on Steam! | We can’t wait for players to finally experience the incredible work the team has poured their hearts and souls into. |
| 19.12.2025 | Nikoderiko: The Magical World won the TOMMI 2025 Awards | Niko & Luna took 2nd place for Best Youth Game and 3rd place for Best PC Game. |
| 16.12.2025 | GEM Capital featured in Fast Company | «Video games are bad for children!» they said. «They’ll rot your brain!» they said. «You’re just wasting your time playing!» they said. |
| 16.12.2025 | Hypemasters is Leveling Up its MENA Presence! | We’re glad to announce that our portfolio company Hypemasters has successfully secured a $1million investment round led by Impact 46, with participation from GEM Capital. |
| 08.12.2025 | Faction Laws in Heroes of Might and Magic: Olden Era! | With Schism unveiled this summer, our portfolio studio Unfrozen has now introduced all the factions coming to the game’s Early Access launch. So for our next series of devlogs, we’re diving deeper into what truly sets each faction apart.... |
| 02.12.2025 | Atomic Heart: DLC #4 – First Look Teaser | Mundfish has released a teaser for the fourth DLC for Atomic Heart, which will conclude the story of the game’s first installment! |
| 02.12.2025 | This fan art for Replaced by Keyvei is absolutely unreal! | The world of Sad Cat Studios is inspiring incredible creativity, and the game isn’t even out yet! |
| 27.11.2025 | Community matters — always. | One of the highlights of Heroes of Might and Magic: Olden Era marketing campaign was a collaboration between our portfolio studio Unfrozen and Anna from Heroes Take Turns – one of the most trusted and beloved creators in the Heroes communit... |
| 27.11.2025 | AppMagic released its First Monetization Report! | Kudos to our portfolio company AppMagic for this great analysis and awesome report |
| 19.11.2025 | Unfrozen setting the benchmark for community-first development! | The results of hard work and dedication are undeniable. No one works their audience quite like the team at Unfrozen! |
| 14.11.2025 | The creators of Atomic Heart, Dying Light, and Helldivers met together! | Panel discussions aren’t always the most exciting thing in the world… but not when the creators of some of the best shooters in the world meet on stage! |
| 12.11.2025 | Atomic Heart DLC 4 is going to be awesome! | Our portfolio company Mundfish is definitely cooking |
| 11.11.2025 | Olden Era on the cover of SCORE! | There can never be too many covers!! Heroes of Might and Magic: Olden Era was featured on both the front and back covers of SCORE, the longest-running PC gaming magazine in the Czech Republic! |
| 10.11.2025 | REPLACED Graces the Cover of Power Unlimited! | What is the most valuable asset in a games company? While there’s no single correct answer, a unique IP is certainly one of the first that comes to mind. |
| 07.11.2025 | Say hello to Niko! | Look who just arrived at our office! |
| 07.11.2025 | Heroes of Might & Magic: Olden Era — of Beasts and Myths #1: Vampires across the Heroes series! | What is the most iconic image of a vampire in pop culture and video games? |
| 07.11.2025 | Heroes of Might and Magic: Olden Era is featured on the cover of the latest issue of PC Gamer magazine! | In this exclusive cover story, PC Gamer sat down with Unfrozen, the developer behind Olden Era, to talk about the studio’s journey in bringing this new installment of the Heroes of Might and Magic series to life |
| 04.11.2025 | REPLACED Featured in Edge! | REPLACED by our portfolio company Sad Cat Studios is proudly featured in the December issue of the legendary Edge magazine! |
| 30.10.2025 | GEM Capital featured in Fortune | We’re proud to share an article published by Fortune, where our co-Managing Directors, Kirill and Roman Gurskiy, reflect on the experience of managing GEM Capital together. |
| 28.10.2025 | Winners of Steam’s October 2025 Next Fest | GameDiscoverCo has shared a detailed and insightful breakdown of the results from Steam’s latest Next Fest demo showcase. |
| 24.10.2025 | The Future of Gaming Analytics is Unified! | Max Samorukov, founder of our portfolio company AppMagic, sat down with Gamesmarket for an interview following the launch of new Steam Analytics module! |
| 22.10.2025 | Business Leaders’ meetup in Paphos | We met so many amazing people — smart, creative, full of ideas (and coffee ☕️). It’s always inspiring to see how professionals from completely different fields can instantly connect and share fresh perspectives. |
| 22.10.2025 | Gaming emerges as MENA’s next big venture bet | Our Managing Director, Kirill Gurskiy, has shared an article with Wamda outlining our views on the future of the MENA gaming market. |
| 20.10.2025 | Heroes of Might and Magic: Olden Era Demo Reviews | Reviews for the Heroes of Might and Magic: Olden Era demo from our portfolio company Unfrozen are in, and we’re thrilled to see such incredible feedback from some of the world’s biggest gaming outlets! |
| 16.10.2025 | Heroes of Might & Magic: Olden Era hits 1,000,000 wishlists on Steam! | The Heroes of Might & Magic: Olden Era, developed by our portfolio company Unfrozen, has soared to new heights, securing 1 million wishlists and climbing to the #14 spot overall on Steam. |
| 16.10.2025 | GDCy Executive Lounge was amazing!! | Huge thanks to the GDCy team for another unforgettable event! You guys really know how to mix business with pleasure! |
| 14.10.2025 | Olden Era Demo is #1 at Steam Next Fest | Steam Next Fest began yesterday, and the demo for Heroes of Might & Magic: Olden Era by our portfolio company Unfrozen is currently holding the #1 spot! |
| 13.10.2025 | 16th place in the entire history of Steam tracking!!! | So, let’s sum up the first weekend of the Heroes of Might and Magic: Olden Era demo! |
| 13.10.2025 | Heroes of Might & Magic: Olden Era Demo is Available NOW! | What an incredible gift to all fans on the 30th Anniversary of this legendary series! |
| 08.10.2025 | When Critic Previews Speak for Themselves! | Sometimes, a quote is worth a thousand words. And this one from IGN about our portfolio company Sad Cat’s upcoming title, Replaced |
| 07.10.2025 | The Next Strategy Classic is Coming! | That’s not us talking — that’s GamesRadar+ calling our portfolio company Unfrozen’s Heroes of Might and Magic: Olden Era «a strategy classic in the making!» |
| 07.10.2025 | Material of Marvelous Craftsmanship | There’s something truly special about The Eternal Life of Goldman — a game inspired by ancient fables and depicted in classic frame-by-frame animation. |
| 03.10.2025 | A new Devlog for Heroes of Might and Magic: Olden Era is out! | The game from our portfolio company Unfrozen is currently ranked #25 among the most anticipated games worldwide and is the #1 most wishlisted Turn-based Strategy title. |
| 03.10.2025 | GEM Capital at the GDCy Executive Lounge | Looking forward to meeting friends, partners, and new faces from the industry. |
| 25.09.2025 | Exciting news: Skich featured in a big PocketGamer interview! | Sergey Budkovski, the founder of the pioneer mobile game store, Skich, shared a deep dive with PocketGamer on the future of this segment and how Skich is on a mission to disrupt the current mobile gaming experience aiming to become the “Ste... |
| 25.09.2025 | Huge win for alternative app stores on iOS! | You can now download any alternative app store in just 2 clicks — no more endless browser hopping or granting a dozen permissions. |
| 25.09.2025 | SPECTATOR MODE in Heroes of Might & Magic: Olden Era | For the first time in the history of this legendary series, a spectator mode is being introduced — a long-awaited feature that fans have been asking for. And Unfrozen has delivered! |
| 19.09.2025 | WN Cyprus INDIE PITCH 2025 | Looking at the photos, it seems like Max Fomichev and Roman Gurskiy were the kindest judges at WN Cyprus INDIE PITCH 2025. |
| 19.09.2025 | GEM is opening doors for new talent! | The annual WN Conference just wrapped up in Limassol, where we partnered to host the Developer Showcase. |
| 12.09.2025 | Olden Era For The Win at DevGAMM Awards! | We are thrilled to announce that Heroes of Might and Magic: Olden Era from our portfolio company Unfrozen has been nominated for DevGAMM Awards! We are so proud of the team and wish them the best of luck! |
| 10.09.2025 | INDIE PITCH at WN Cyprus 2025! | Can’t wait for INDIE PITCH tomorrow at WN Cyprus 2025! |
| 09.09.2025 | Investing in Games 2025 at WN Cyprus | Autumn is here, and that means one thing: WN Cyprus 2025 is just around the corner! |
| 05.09.2025 | Gamescom 2025 Recap | Ready for one more Gamescom recap? |
| 04.09.2025 | Heroes of Might and Magic: Olden Era has now been wishlisted by over 750,000 players! | The game remains the #1 most wishlisted Turn-based Strategy title and has already climbed to #31 among the most anticipated games worldwide. |
| 02.09.2025 | Come celebrate the 30th Anniversary of Heroes of Might and Magic! | Ubisoft and our portfolio company Unfrozen invite everyone to join the celebration on October 9! |
| 02.09.2025 | 5 Seed Deck Red Flags That Can Make Investors Say ‘No Thanks’ | In our new Forbes article, «5 Seed Deck Red Flags That Can Make Investors Say ‘No Thanks’,» we pull back the curtain on five of the most common reasons why early-stage startups get a «no.» |
| 28.08.2025 | Heroes of Might and Magic: Olden Era at Gamescom | A legendary franchise comes with a legendary responsibility. |
| 28.08.2025 | Schism is coming to Olden Era! | Our portfolio company Unfrozen has finally pulled back the curtain on the secret 6th faction of their upcoming game, Heroes of Might & Magic: Olden Era. Say hello to the mysterious Schism! |
| 26.08.2025 | REPLACED is set to launch in Spring 2026 | This was confirmed by Yura Zhdanovich himself, game director and co-founder of Sad Cat Studios — a statement millions of fans can trust. |
| 26.08.2025 | IGN’s Hands-On Preview of Replaced | We’re thrilled to see IGN’s hands-on preview of Replaced, the upcoming game from our portfolio company Sad Cat Studios. |
| 22.08.2025 | “One of the most stylish 2D games ever made.” Well said, IGN! | At Gamescom, Igor Gritsay, co-founder of Sad Cat Studios, sat down with IGN to share new details about one of the world’s most anticipated games — REPLACED. |
| 22.08.2025 | AppMagic and Skich at the Mobile Game Awards | This week’s Mobile Game Awards were a big one for us! Two of our portfolio companies — AppMagic and Skich — both received an Honourable Mention! |
| 20.08.2025 | Unfrozen dropped the Main Menu Theme Preview for Olden Era | Fans of turn-based strategy games, get ready to shed a tear … Our portfolio company Unfrozen dropped the Main Menu Theme Preview for their upcoming game, Heroes of Might & Magic: Olden Era! |
| 15.08.2025 | Skich Store has officially launched on Android! | As big changes are coming soon to the US mobile game distribution market, our portfolio company Skich is at the forefront of a major shift. |
| 13.08.2025 | NEW FORBES ARTICLE | What should investors focus on when evaluating startups in 2025? |
| 07.08.2025 | Battle & Combat in Olden Era | It’s so cool that fans and influencers are already creating content for Heroes of Might & Magic: Olden Era by our portfolio company Unfrozen before the game has even been released! |
| 05.08.2025 | New trailer for The Eternal Life of Goldman! | At the THQ Nordic Digital Showcase 2025, the team at Weappy unveiled a brand new trailer for their new game, and it’s definitely worth watching… and listening to! |
| 01.08.2025 | Guess where Goldman’s heading? | To the THQ Nordic Digital Showcase 2025! |
| 29.07.2025 | 🧙♂️ Devlog #3 on Skills in Heroes of Might and Magic: Olden Era | Unfrozen is back with another devlog. This time, all about how hero skills will work. It’s everything we love: respectful to the classics, full of thoughtful design, and clearly made by people who truly understand what fans care about. |
| 24.07.2025 | GEM Capital joins The Ventures Cyprus | Kirill Gurskiy is thrilled to join The Ventures Cyprus as a judge! |
| 24.07.2025 | GEM Capital games are dominating Steam | We are incredibly proud to see games from GEM Capital’s portfolio ranked among the most anticipated titles globally, as confirmed by their current positions on the Steam wishlist charts. |
| 16.07.2025 | GEM Capital in the top 10 most active early-stage gaming VCs globally in Q2 2025 by Drake Star! | This recognition comes from Drake Star’s recently released Global Gaming Report Q2 2025. |
| 16.07.2025 | Get Ready, Shanghai! We’re Coming to ChinaJoy! | This year, we are heading to ChinaJoy for the very first time, and let’s just say, it’s a bromance in the making with this incredible conference! |
| 09.07.2025 | AppMagic and Skich nominated at the Oscars of Mobile Games! | The Pocket Gamer Mobile Games Awards 2025 finalists have just been announced — and we’re thrilled that two of GEM Capital’s portfolio companies made the list! |
| 04.07.2025 | Strengthening the Games Ecosystem in Uzbekistan! | GEM Capital has partnered with Tashkent Metropolitan University and GamedevHQ to jointly develop and strengthen the games ecosystem in Uzbekistan and globally! |
| 02.07.2025 | A Match Made in Strategy Heaven! | Some collaborations just feel right, and this is definitely one of them! We’re absolutely thrilled to announce that Hooded Horse is joining our portfolio company Unfrozen and Ubisoft as a co-publisher for Heroes of Might and Magic: Olden Er... |
| 27.06.2025 | Throwback Thursday to Awesome GDCy 2025 | Lots of sun, great people, meetings, and conversations. Thanks to our co-speakers Mike Fischer, Nika Pari Nour, Anton Gorodetsky, and Andrey Feinberg for an excellent panel and Tim Fadeev, Andrey Ivashentsev, and the entire GDCy team for an... |
| 27.06.2025 | GEM Capital featured in Unite.AI | We recently shared our thoughts and practical insights in an article for Unite.AI — “How AI Is Redefining Leadership and Decision-Making in 2025.” |
