Valhalla Ventures has launched a brand new $66 million enterprise capital fund, which it is going to put money into gaming and deeptech startups. The agency is particularly focusing on what it calls “audacious entrepreneurs” who push the boundaries of science and engineering, and has already invested in 15 startups similar to Unbelievable Dream, 1v1me, and cellular metaverse platform Bunch since early 2022.
“Capital is scarce proper now, particularly for first time funds like us, so we’re honoured to be backed by among the world’s greatest founders, household workplaces, executives, and companies,” stated Valhalla’s common accomplice and head of gaming observe common accomplice Devan Malhotra. “We wish to deliver enterprise again to its unique promise, when Georges Doriot and the early buyers in Silicon Valley labored hand-in-hand with the world’s boldest and zaniest entrepreneurs to unravel the world’s hardest issues.
“The VC business has misplaced its means. Too many funds spray and pray into ‘tier 1’ led offers whereas spending extra time tweeting and fundraising than working with portfolio firms. We wish to tack left, constructing a concentrated portfolio throughout non-traditional areas – gaming and deeptech – and dealing boots on the bottom with the engineers, creatives, and scientists which can be constructing a brighter future.”
Success in funding
Within the video games house, the fund will particularly goal underfunded and novel firms with an emphasis on crafting social experiences. The corporate states that gaming will characterize round a 3rd of the corporate’s investments, with firms receiving investments of round $1 to $2 million.
“Bunch welcomed Valhalla Ventures to our staff throughout our newest spherical. They shortly grew to become one in every of our most insightful and useful companions, making helpful connections to strategic companions and key gamers within the media and leisure business. They carry a powerful conviction and reveal a deep understanding of our market. Any founder could be fortunate to have them of their nook,” stated Bunch founder Selcuk Atli.
“On the deeptech aspect, we’re issues which can be fully new and have by no means been carried out earlier than,” common accomplice Rohan Pujara instructed GamesBeat. “The identical is true on the gaming aspect. Over the previous couple of many years, there have been a variety of been a variety of copycats. Like Uber for this or AirBnB for no matter business. You see the identical factor inside gaming. Individuals are constructing the subsequent MMO or shooter. We wish to go and discover out who’s constructing one thing fully new or taking an strategy that everybody is ignoring.”
In October, Valhalla Ventures participated in a $4 million funding spherical for ByteBrew.
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