Ian Livingstone, the co-founder of Games Workshop Group PLC (LON:GAW), has launched a €100mln fund to address the lack of funding in the UK and European gaming sector.

Livingstone, known as the “father” of Lara Croft, founded Games Workshop in 1975 with John Peake and Steve Jackson, with the company booming in recent years and the shares jumping eightfold thanks to the popularity of its flagship tabletop game, Warhammer.

READ: Games Workshop unveils dividend spoils and lays out plans for further Warhammer incursions

While gaming companies used to be rare in the London Stock Exchange, the flourishing market brought new names to the table, such as Sumo Group PLC (LON:SUMO), Team17 Group PLC (LON:TM17) and Codemasters PLC (LON:CDM) joining in the past couple of years.

Livingstone is now partner at investing group Hiro Capital, which launched the fund to address the “post seed capital gap” afflicting games, esports and digital sports projects.

Other partners are Cherry Freeman, co-founder of online community LoveCrafts, and Luke Alvarez, co-founder of game developer Inspired Entertainment Inc (NASDAQ:INSE).

The initiative is aimed at helping gaming ventures moving forward after the first funding step, in an industry that serves three billion of gamers globally, but with many companies struggling to access funding after initial ‘seed’ investments.

“Through investing and nurturing the right talent in Europe and the UK, our goal is to generate great returns for our investors and bring much-needed capital to the industry,” said Livingstone in a release.

“We are focused on innovative games and games technologies. We’re gamers at heart and strongly believe in the positive power of play culturally, socially and economically.”