New Gaming Fund: a16z Invests $30 Million in Startups

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The investment powerhouse a16z is launching its Games Fund One, setting aside a whopping $30 million to support technology and gaming startups.

Andrew Chen, a General Partner at a16z, revealed on X that he plans to invest as much as $30 million into the Andreessen Horowitz SPEEDRUN program using the a16z Games Fund One.

a16z Games Fund One Accelerates Tech-Gaming Startups with $30M Injection

The SPEEDRUN program, described by a16z as an “early-stage accelerator” at the intersection of technology and gaming, is set to receive a significant boost from a $30 million fund. Startups focusing on gaming-related technologies stand to benefit from this initiative, with each potentially receiving up to $750,000 upon joining the program.

According to General Partner Andrew Chen, the aim is not just to provide financial support but also to offer guidance and exposure to top investors and mentors. Interested startups have until May 19, 2024, to apply for the program, with notifications expected to be sent out by the end of June. Selected participants will then embark on a rigorous 12-week program, culminating in the selection of final winners for the fund.

Chen highlighted the exclusivity of the program, noting that only around 1% of applicants were accepted in the last cohort. Successful applicants will receive support not only in terms of capital but also through access to industry coaches, mentors, and a community of ambitious founders.

Chen, who oversees Games Fund One, a16z’s $600 million fund established nearly two years ago, emphasized the fund’s backing by top founders from successful tech and gaming companies such as Roblox, Discord, and Riot Games. Additionally, the fund includes key figures like Aleks Larsen and Jeffrey Zirlin, co-founders of Sky Mavis, the company behind “Axie Infinity,” the pioneering blockchain game that attracted a significant player base.

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Expanding Horizons: a16z’s Diverse Investments in Gaming and Web3

Over time, Games Fund One has diversified its investments across various gaming-related ventures, including Artificial Intelligence (AI), Virtual Reality (VR), Augmented Reality (AR), and Web3.0 startups. According to a LinkedIn post by Chen in 2023, the fund initially focused on studios, Web3, and infrastructure in its inaugural year and planned to shift its attention to AI in the following year.

Apart from Games Fund One, a16z has also ventured into blockchain-based gaming projects through its crypto division. Companies like Mythical Games and Voldex have benefited from these investments, establishing themselves as leading players in the blockchain gaming space.

In a similar vein, Immutable and Polygon Labs recently announced a collaboration to establish a $100 million fund dedicated to Web3 gaming. This initiative aims to support early-stage gaming startups in the blockchain space, fostering innovation and growth within the industry.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.


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