a16z's newly announced fund will go for game studios, consumer apps that support gamers, and Infrastructure tools for digital games.
a16z’s newly announced fund will go for game studios, consumer apps that support gamers, and Infrastructure tools for digital games.
Renowned VC firm – Andreessen Horowitz – announced launching a $600 million fund, GAMES FUND ON, dedicated to investing in the gaming industry. It has garnered support from industry leaders, including the founders and cofounders of Roblox, Blizzard, Riot Games, Discord, Twitch, and more, for building the next generation of digital games.
Considering that giants like Fortnite, League of Legends, and Minecraft, are generating billions of dollars in revenue each year, a16z believes the Metaverse powered by game infrastructures and technologies can potentially challenge the $300 billion game industry.that the fund will go to promising game studios, consumer companies built around player communities, and infrastructure tools and services vital for upcoming games and the Metaverse.
Seeing GAMES FUND ONE as “nearly a decade in the making,” the VC firm recalled its game endeavors began in the 2010s by backing companies like Zynga and Oculus, stating its firm belief in the industry has only been stronger.“All of this has cemented our belief that games require a specialized focus–not just in dedicated investing capital, but also in operational prowess that’s as unique and forward-thinking as the games industry itself.
The team saw the lab as a research center dedicated to solving problems in the Web3 space and moving to advance the science and technology of the next generation of the Internet.several months ago, a16z, amongst the leading venture capital companies investing in all sorts of crypto and tech-related projects, raised $9 billion to double down on its involvement in the sector.
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