Looking to expand its reach into gaming, venture capital firm Andreessen Horowitz (a16z) announced today the launch of GAMES FUND ONE, which will invest $600 million across the industry.
Games will continue to play a pivotal role in how people socialize, play, and work in the future, and the fund will invest in game studios, game and customer experiences, and infrastructure, a16z said.
“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,” a16z said in a statement.
Joining Andreessen Horowitz in the fund are David Baszucki, founder of Roblox; Jason Citron, founder of Discord; Marc Merrill, co-founder of Riot Games; Mike Morhaime, co-founder of Blizzard; Aleks Larsen and Jeffrey Zirlin, co-founders of Sky Mavis; Kevin Lin, co-founder of Twitch; Mark Pincus, founder of Zynga; and Riccardo Zacconi, founder of King.
A16z pointed to the success of games with massive social followings, such as Fortnite, League of Legends, and Minecraft. In 2021, the gaming industry raked in over $300 billion, according to a report by research firm Naavik.
“These ‘games-as-a-service’ have become rich, interactive social networks, with players making in-game friendships that are just as meaningful as those made in-person,” a16z said.
Earlier this month, a16z partnered with Coatue, Greenfield One, Liberty City Ventures, Digital Currency Group, and Dapper Ventures in a $725 Million Ecosystem Fund to support developers building on the Flow Blockchain.
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Source: https://decrypt.co/100787/andreessen-horowitz-launches-600m-fund-focused-on-metaverse-games
