A16z's gaming fund to invest $30 million in multiple startups

Gaming • April 1, 2024, 2:24PM EDT

Published 1 minute earlier on

Quick Take

Andreessen Horowitz plans to invest $30 million in multiple gaming-related tech startups.
The firm’s gaming fund, which was started in 2022, invests in developing various gaming-adjacent technologies, including web3.

Top venture capital firm Andreessen Horowitz announced on Monday it plans to invest $30 million in multiple startups.

"I'm investing $30 million in the next 45 days via the a16z Speedrun program," a16z General Partner Andrew Chen posted to X. "$750,000 per startup that joins the Speedrun program ... we'll invest, work with you, expose you to the world's top investors/mentors, etc."

Chen helps oversee the firm's Game Fund One, a $600 million fund launched nearly two years ago. Although Games Fund One invests in various gaming-adjacent technologies, including artificial intelligence, virtual reality, augmented reality and more, it also funds web3 startups.

Games Fund One includes the founders of successful tech and gaming companies, including Roblox, Discord, Riot Games and Sky Mavis co-founders Aleks Larsen and Jeffrey Zirlin. Sky Mavis created "Axie Infinity," the first blockchain game to attract a larger number of gamers.

In a LinkedIn post from last year, Chen said the fund was "very focused on studios, web3, and infrastructure" during its first year and planned to focus more on artificial intelligence during its second year.

Parallel to Games Fund One, a16z has, through its crypto division, made several investments in blockchain-based gaming companies. A16z has invested in blockchain gaming companies like Mythical Games and Voldex.

Early accelerator for gaming-adjacent startups

According to a16z, Speedrun is an "early-stage accelerator for startups at the intersection."

"Our intensive 12-week program is highly selective, with ~ 1% of applicants accepted in our last cohort," said Chen. "Participants are supported not just with capital, but also by a highly curated set of industry coaches, mentors, and a community of ambitious founders."

The application deadline for Speedrun is May 19, Chen also said on X.

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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.