Play Ventures raises $140m in third gaming fund
Firm expects to invest in up to 25 early-stage games companies worldwide
Play Ventures has closed its third gaming fund, having raised $140 million.
As GamesBeat reported, Play Ventures will continue to invest in early-stage games companies. However, this round will focus on mobile free-to-play games and infrastructure and AI-enhanced gaming tools.
Play Ventures has made eight investments since the closure of its third round in June 2023, including in AI startup Beyond.
The firm is expecting to invest in between 20 to 25 companies worldwide, focusing on pre-seed to series A funding rounds.
"Mobile gaming is one of the most dynamic arenas of our time, presenting massive, untapped potential," said Play Ventures founding partner Henric Suuronen.
"With Fund III, we're investing in a new wave of billion-dollar games and interactive experiences, supercharged by the transformative powers of AI."
It's the largest investment to date for the VC fund, which brings Play Ventures' total to $315 million having raised $135 million in April 2021 and $40 million in August 2019.