AMF Capital Launches with up to $28M User‑acquisition Financing for Bear Hug Entertainment

Why It Matters

UA financing lets mobile game founders accelerate revenue without surrendering equity, a model gaining traction as competition for user attention intensifies. AMF Capital’s launch signals a shift toward specialist growth capital in the fast‑moving rewards‑gaming niche.

Key Takeaways

• AMF Capital launches with $28M user‑acquisition financing for Bear Hug
• Founders gain rapid growth capital without equity dilution
• Fund combines Arcadia’s monetisation expertise with Makers’ operator experience
• Bear Hug has paid out over $500K in player prizes
• Additional deals pending, signaling broader market impact

Pulse Analysis

User‑acquisition (UA) financing has emerged as a pivotal growth lever for mobile game studios, allowing them to purchase installs and scale revenue while preserving ownership. AMF Capital, the latest entrant backed by Arcadia Gaming Partners and Makers Fund, exemplifies this trend. Led by former Tripledot Studios monetisation director Andrew Seow, the fund offers a hybrid of capital and hands‑on operational guidance, positioning it as a one‑stop shop for developers seeking rapid scale without the dilution of traditional equity rounds.

The fund’s first commitment—a $28 million UA package for Bear Hug Entertainment—highlights the appetite for financing in the rewarded‑games segment. Bear Hug, known for its twists on classic titles like Mahjong and Solitaire, has already distributed more than $500 k in player prizes, demonstrating a proven engagement model. By injecting substantial UA budget, AMF Capital enables Bear Hug to amplify user acquisition, test new creative iterations, and accelerate monetisation, potentially turning modest prize payouts into a sustainable revenue engine.

Beyond the immediate deal, AMF Capital’s launch underscores a broader shift in mobile gaming investment. Investors are increasingly favouring flexible, growth‑oriented capital structures that align with the fast‑cycle nature of app stores. The partnership leverages Arcadia’s deep monetisation expertise and Makers’ operational pedigree, offering studios a blend of funding and strategic support rarely seen in traditional venture deals. As more developers chase the high‑velocity growth enabled by UA financing, funds like AMF Capital could become a standard component of the mobile gaming ecosystem, reshaping how studios fund expansion and how investors capture upside.

Deal Summary

Arcadia Gaming Partners MD Akin Babayigit and Makers Fund have launched AMF Capital, a new user‑acquisition financing fund. Its first deal provides Bear Hug Entertainment with up to $28 million in financing to scale its rewarded‑games portfolio. The fund, led by Andrew Seow, operates independently of its parent firms.