THQ exec Akmal forms investment firm

THQ exec Akmal forms investment firm

By Ed Fear

September 15th 2008 at 4:58PM

GCube Ventures seeking opportunities within the global games field

Former THQ vice president of operations and product development Shiraz Akmal has left his former company to start a new investment company, GCube.

Akmal, who has worked in the industry for 20 years, created THQ's External Development Group and has 'built video game production studios in the US and Asia'. He joined global investment manager Jawad Ansari to found GCube, which 'injects captial into its portfolio companies' and provides strategic guidance to its affiliates, bringing a 'strong global co-investor network' to innovative companies within the gaming sphere.

"As the first VC firm focusing on the global videogame industry, we intend to open new doors, help develop extraordinary ideas into world class businesses, and support much needed industry entrepreneurship and innovation," said Akmal.

"We believe the combination of our extensive domain knowledge, global co-investor network and industry relationships will fuel the rapid expansion of this market."

Ansari added: "We understand the industry from both perspectives -- the entrepreneur's and the investors. Our firm will support the industry's growth by investing in its untapped potential throughout the entire game 'ecosystem.' We are investing in both evolutionary and disruptive business models.

"The game industry is becoming the dominant form of entertainment and we are positioned to become the pre-eminent global videogame investment firm of choice," he said.