a16z Launches a $600 Million Game Fund Backed by Roblox and Blizzard

Andreessen Horowitz, a well-known VC firm, announced the launch of GAMES FUND ON, a $600million fund dedicated to investing in gaming. It has been supported by industry leaders such as the cofounders of Roblox and Riot Games, Discord and Twitch.

Game Endeavors by a16z

VC firm a16z stated that the company’s latest move was based on the belief games are driving innovation across the consumer ecosystem as well as the “pivotal moment” of the next century.

A16z believes that the Metaverse, powered by game infrastructures, can challenge the $300 billion gaming industry, considering giants such as Fortnite, League of Legends, Minecraft and League of Legends.

In a press release, the firm stated that the fund would be used to support promising game studios and consumer companies built around player community. It will also provide infrastructure tools and services essential for future games and the Metaverse. The fund will also help its portfolio companies in a variety of ways, including building communities, managing virtual economies, IP licensing, and building dev teams.

GAMES FUND ONE was described by the VC firm as “nearly a ten-year in the making.” It recalled that its game ventures began in 2010s with backing companies such as Zynga or Oculus. This affirmed its firm belief in this industry.

“All this has reinforced our belief that the games industry requires a specialized focus, not just in dedicated investing capital but also in operational prowess. This is as unique and forward-thinking.

New Crypto Research Unit focuses on Web3

The VC firm established a Web3-focused cryptocurrency research team last month. It claimed that these applications could “uncover new research challenges that are fundamental for how this technological trend will play out.”

The lab was envisioned by the team as a research facility that would solve problems in the Web3 space, and move to advance science and technology for the next generation of Internet.

CryptoPotato reported that a16z, one of the largest venture capital firms investing in crypto and tech-related projects, has raised $9 billion to increase its participation in the sector.

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