Valhalla Ventures launches $66 million fund for gaming investment
Valhalla Ventures has announced the launch of a new $66 million venture capital fund dedicated to investing in gaming and deeptech startups. The firm is on the lookout for visionary entrepreneurs who push the boundaries of science and engineering. Since early 2022, Valhalla Ventures has already invested in 15 startups, including Incredible Dream, 1v1me, and the mobile metaverse platform Bunch.
Devan Malhotra, Valhalla's general partner and head of gaming practice, expressed gratitude for the backing received from world-renowned founders, family offices, executives, and corporations. The goal of the fund is to bring venture capital back to its roots, where investors like Georges Doriot in Silicon Valley worked closely with bold and innovative entrepreneurs to address the world's most challenging problems.
Malhotra also criticized the current state of the venture capital industry, noting that many funds focus on "tier 1" deals and prioritize social media and fundraising over actively supporting portfolio companies. Valhalla Ventures seeks a different approach, concentrating on non-traditional areas like gaming and deeptech. The firm aims to work closely with engineers, creatives, and scientists who are driving groundbreaking innovations for a brighter future.
Within the gaming sector, the fund will target underfunded and innovative companies, with a strong emphasis on crafting social experiences. Gaming investments are expected to make up about one-third of the fund's portfolio, with startups receiving investments ranging from $1 to $2 million.
On the deeptech side, Valhalla Ventures is seeking groundbreaking and previously unexplored concepts. According to general partner Rohan Pujara, the same philosophy applies to gaming. Instead of funding copycats or incremental improvements, the focus will be on identifying startups that are building something entirely novel or taking an unconventional approach that others may have overlooked.
Bunch founder Selcuk Atli spoke highly of Valhalla Ventures' contribution, praising their valuable insights and connections to strategic partners and key players in the media and entertainment industry. The fund's dedication to supporting startups in emerging fields sets it apart and makes it an appealing partner for any founder seeking to make a significant impact.
Source: Lewis Rees, Staff Writer at PocketGamer