VC and private equity firm Valhalla Ventures has unveiled a $66 million fund, some of which could be going to games companies.

Speaking to VentureBeat, the organisation's general partner and head of its games business, Devan Malhotra, said that it was creating this pot for a variety of companies and industries, but underfunded games firms were within its remit.

“Capital is scarce right now, especially for first time funds like us, so we’re honored to be backed by some of the world’s best founders, family offices, executives, and corporations,” said Malhotra. “We want to bring venture back to its original promise, when Georges Doriot and the early investors in Silicon Valley worked hand-in-hand with the world’s boldest and zaniest entrepreneurs to solve the world’s hardest problems.”

He continued: “The VC industry has lost its way. Too many funds spray and pray into ‘tier 1’ led deals while spending more time tweeting and fundraising than working with portfolio companies. We want to tack left, building a concentrated portfolio across non-traditional areas – gaming and deeptech – and working boots on the ground with the engineers, creatives, and scientists that are building a brighter future.”

Valhalla Ventures was founded in 2020 and is an early-stage investor.