Written by Dante Uzel on 18 November 2024 15:48
Play Ventures, a global venture capital firm focused on early-stage gaming investments, has successfully raised $140 million for its third gaming fund. This new fund is the largest to date for the Singapore-based firm, bringing its total assets under management to $450 million. The fund's close is particularly significant given the challenges faced by the gaming industry over the past 2.5 years, which saw 33,000 layoffs during this period.
Fund III will continue Play Ventures’ strategy of investing in early-stage companies across the gaming ecosystem. The focus will be on mobile free-to-play games, mobile consumer products, gaming infrastructure, AI-enhanced gaming tools, and next-generation distribution channels. The firm plans to invest in 20 to 25 companies globally, concentrating on pre-seed to Series A rounds, while reserving capital to support top-performing portfolio companies as they scale.
Founded in 2018, Play Ventures has offices in Singapore and Helsinki. Its first fund raised $30 million, followed by $135 million for its second fund in 2021. Since the initial close of Fund III in June 2023, Play Ventures has already made eight investments, including backing experienced founders with previous successful exits, highlighting the firm’s strong deal sourcing and investment approach.
Tags: Play Ventures
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