Andreessen Horowitz is launching a new vertical fund focused exclusively on gaming industry opportunities.
The new $600 million fund includes an endowment pool and a new internal structure designed to find deals within the gaming vertical. The new facility, called Games Fund One, brings together a16z’s other industry divisions, including its crypto and bio divisions.
The fund is led by general partners Andrew Chen, John Lai and James Gwertzman.
“WITH [Games Fund One]we will continue to add more features and develop deeper networks tailored to the gaming ecosystem so that we can help our portfolio companies with everything from creating digital communities to managing their virtual economy, IP licensing best practices and helping them grow. commands, and Blog post foundation announcement.
The foundation’s backers include a number of leaders in the gaming world, including the co-founders of companies such as King, Discord, Roblox, Zynga, Twitch, Blizzard and Riot Games.
Andreessen Horowitz has already made a number of bets in the gaming and MMO world, including Zynga and Oculus. The formation of the gaming vertical is due to the fact that Facebook (now Meta) is loud about the possibilities in games when it comes to the metaverse.
The new fund comes at a time of recession for the broader tech industry as investors encourage startups to save money while public tech stocks continue to fall. Gaming infrastructure company Unity is trading more than 80% below its November 2021 highs, while gaming platform Roblox is trading about 75% below its highs made during the same period.
Credit: techcrunch.com /