Jack Tretton had a storied career with PlayStation, which he led to the apex of its popularity with the PlayStation and PlayStation 2, and then put back on its path of resurgence with the PlayStation 4. Tretton ultimately ended up leaving Sony back in 2014, after 19 years with the company.
Now, we know what he is going to be doing next- he has apparently founded a new company named Interactive Gaming Ventures, which is a firm that will offer cash investments, relationships, and guidance for independent game developers.
“Traditional private equity and venture firms appreciate the 100 billion dollar size of the gaming industry, but most lack the understanding and the comfort level to invest in it,” said Jack Tretton, Managing Partner, Interactive Gaming Ventures. “We provide these studios structure, cash infusion, and use our relationships to ensure that they are getting an appropriate share of voice from first parties backed by investors that know the industry and seek the outstanding financial returns that a well run publisher can provide.”
The intent, apparently, is for IGV to handle the logistics and management end of the business, so that indie developers can focus exclusively on the part that they are best at- the creative nuances of game development. The team is looking at sponsoring 203 studios a year- which should, in turn, help ensure that they don’t end up spreading themselves too thin.
Hopefully, great games come out of this.