ALL THE LATEST NEWS ABOUT THE BUSINESS OF PC GAMES

News

VC Andreessen Horowitz opens new $600m games fund

VC Andreessen Horowitz opens new $600m games fund

Venture capital outfit Andreessen Horowitz has rolled out a brand new $600 million fund to invest in the games industry.

Dubbed the Games Fund One, this is a new pot of cash dedicated entirely to the games business. The firm has previously invested in this sector, such as Oculus and Zynga.

Games Fund One is set to invest in games studios – with a focus in service-based outfits – as well as apps to support consumers. Finally, Andreessen Horowitz wants to invest in infrastructure, with the expectation that games contain the building blocks for the 'metaverse', whatever that is. The fund is led by Andrew Chin, Jonathan Lai and James Gwertzman.

A number of industry partners are on board as advisors, including Roblock's David Baszucki, Jason Citron of Discord and Riot co-founder Marc Merrill.

"Games Fund One is founded on the belief that games will play a pivotal role in defining how we socialise, play, and work over the next century," Andreessen Horowitz wrote in its announcement copy.

"Over the past decade, games have undergone a radical transformation, from simply being packaged entertainment, to becoming online services that more closely resemble social networks and scale like consumer technology companies. The most successful games today, such as Fortnite, League of Legends, and Minecraft, are communities that retain loyal, long-term users and generate billions of dollars in annual revenue. Furthermore, games are also driving innovation across the entire consumer ecosystem, pioneering best-in-class mechanisms for user engagement, retention, and monetisation, such as microtransactions, battle passes, and web3 tokens. And long term, we believe games infrastructure and technologies will be key building blocks of the metaverse, an opportunity that dwarfs the current $300 billion game industry itself."


Tags:
PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies