Valhalla Ventures has launched a brand new $66 million enterprise capital fund, which it is going to spend money on 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 reminiscent of Unbelievable Dream, 1v1me, and cell 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 a number of the world’s finest founders, household workplaces, executives, and firms,” mentioned Valhalla’s basic accomplice and head of gaming follow basic accomplice Devan Malhotra. “We wish to carry enterprise again to its unique promise, when Georges Doriot and the early traders in Silicon Valley labored hand-in-hand with the world’s boldest and zaniest entrepreneurs to resolve the world’s hardest issues.
“The VC trade has misplaced its manner. 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 are 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 crew throughout our newest spherical. They rapidly grew to become one in every of our most insightful and useful companions, making priceless connections to strategic companions and key gamers within the media and leisure trade. They carry a powerful conviction and exhibit a deep understanding of our market. Any founder could be fortunate to have them of their nook,” mentioned Bunch founder Selcuk Atli.
“On the deeptech aspect, we’re taking a look at issues which are utterly new and have by no means been carried out earlier than,” basic accomplice Rohan Pujara informed GamesBeat. “The identical is true on the gaming aspect. Over the previous couple of many years, there have been loads of been loads of copycats. Like Uber for this or AirBnB for no matter trade. You see the identical factor inside gaming. Persons are constructing the following MMO or shooter. We wish to go and discover out who’s constructing one thing utterly new or taking an method that everybody is ignoring.”
In October, Valhalla Ventures participated in a $4 million funding spherical for ByteBrew.