a16z Launches $30M Games Fund to Support Startups

A16z General announced a $30 million investment in the Andreessen Horowitz SPEEDRUN initiative through A16z Games Fund One.

A16z General Partner Andrew Chen announced X that he would invest up to $30 million in the Andreessen Horowitz SPEEDRUN initiative through the A16z Games Fund One.

Chen made a statement regarding the program. A16z released a statement describing the SPEEDRUN program as an “early-stage accelerator for startups at the intersection” of the gaming and technology industries.

a16z Games Fund To Inject $750K Each Into Qualifying Startups

New businesses creating gaming-related technologies will receive the $30 million fund. Following their participation in the SPEEDRUN program, each startup would be eligible to receive a maximum of $750,000.

In addition, Chen stated, “We will invest, work with you and introduce you to the most successful investors and mentors in the world.” May 19, 2024, is the cutoff date for individuals interested in participating in the program.

Most likely, the chosen individuals will receive notification on or before the end of June. Following that, a twelve-week program will commence, during which we will select the ultimate recipients of the fund.

Our intense 12-week program admits just about one percent of candidates in our most recent cohort, demonstrating its extreme selectiveness.

As Chen highlighted in his post on X, participants receive support not only from financial resources but also from a highly vetted group of industry coaches, mentors, and a community of ambitious founders.

The fact that Chen is in charge of managing Games Fund One, a $600 million fund that a16z established about two years ago, is particularly noteworthy.

Prominent founders from various successful technology and gaming firms, such as Riot Games, Roblox, and Discord, contribute to the fund.

This group also includes Aleks Larsen and Jeffrey Zirlin, co-founders of Sky Mavis, the company that developed “Axie Infinity,” the first blockchain game to attract a significant number of gamers.

Games Fund One has, throughout its existence, redirected its investments into a variety of gaming-related endeavors, such as artificial intelligence (AI), virtual reality (VR), and augmented reality (AR).

It has also made a few investments in firms that are working on Web 3.0. Chen acknowledged in a post on LinkedIn in 2023 that the fund was “very focused on studios, web3 and infrastructure” during its first year of operation.

He also stated that the fund intends to shift its attention to artificial intelligence during its second year of operation. A16z has made some investments in blockchain-based game ventures through its crypto subsidiary, in addition to the Games Fund One investments it has made.

Mythical Games and Voldex, two of the most successful blockchain gaming startups, are among the enterprises that have benefited from such investments.

A similar cooperation was recently announced between Immutable and Polygon Labs to establish a $100 million fund specifically for Web3 gaming.

The purpose of this fund is to encourage the growth of early-stage gaming firms within the blockchain realm.