Andreessen Horowitz launches $600 million gaming fund

Venture capital giant Andreessen Horowitz has launched a new $600 million gaming fund, reports Techcrunch.

Called Games Fund One, the new fund will look to make bets in the fast-growing gaming world. It is being led by general partners Andrew Chen, Jon Lai, and James Gwertzman.

“With [Games Fund One], we will continue to add more functions and develop deeper networks that are tailored to the games ecosystem so we can help our portfolio companies with everything from building digital communities to managing their virtual economies, to IP licensing best practices, to helping build their development teams,” read the blog post announcing the fund’s formation. It said the fund was nearly a decade in the making and born out of the belief that investments in gaming requires a specialised focus.

Several big-name executives from gaming companies such as King, Discord, Roblox, and Twitch are backing the new fund. Andreessen Horowitz already holds investments in popular gaming platforms such as Zynga and Meta’s Oculus.

The new fund follows on from last year’s announcement of a $2.2-billion crypto fund as the company looks to double down on emerging sectors.