Producers Fund raised its third $500 million fund to invest in interactive entertainment startups. Founding partner Jason Chi told gaming-updates that he currently has over $1 billion in assets under management (AUM). The third fund is the largest Maker fund after Fund II of $200 million in 2018 and Fund II of $260 million in 2020.
The third Makers Fund will focus on early-stage investments and write checks ranging from $500,000 to $40 million, Chi said, adding that the average check would be between $5 million and $10 million. The venture firm is committed to supporting the founders in the long term, Chee said, and therefore sets aside most of its funds for subsequent investments.
The Makers Foundation launched its new tool last summer and completed the fundraiser in two months, Chi said in an interview. He has made over ten investments from the third fund, including: altar As well as audio mobI Company is actively seeking investment opportunities around the world for content including VR games, AR and technologies that support developers and publishers in interactive media. In addition, he is interested in investing in social networks, platforms and tools for gamers and creators.
Chi told gaming-updates that the two co-founders of the Makers Fund, Michael Cheung and Chi, noted that much of the innovation and recognition in interactive media comes from startups. However, talented game creators don’t have the same funding or support as their peers, such as traditional technology companies in the industry, Chi said. The creators wanted to fill this gap and support these startups.
According to Chi, the limited partners include US endowments, foundations, and institutions that did not provide the LP’s name.
Michael Cheung, General Partner of Makers Fund, said: “We founded Makers with the belief that we are entering a golden age of interactive entertainment, which leads us to consider investing in the creative environment as an early stage. How do you support founders? ? “The industry has grown from $100 billion in 2017 to $170 billion in 2021 as consumer adoption and engagement accelerate across all demographics and geographies. Our latest funding allows us to support founders on their journey from product introduction to global expansion. ,
Founded in 2016, the Makers Fund now has over 90 portfolio companies, including content studios like Dream Games and Avia Games, technology solutions like Parsec and Zenvid, and consumer platforms like Medal.TV and VRChat.
Makers, which has a 26-person team, recently hired talent partner Gary Hill, who previously worked at Activision Blizzard, Reddit and Paxos; host Eli Otarsson, who previously led the production of Eve Online, League of Legends and Valorant; and Principal Andrew Wilson with experience in leading the gambling practice at McKinsey.
“The Makers Fund’s vision is to partner with entrepreneurs who create innovative games, tools and technologies that define the next generation of interactive entertainment,” Chi said. “We view our investments as partnerships, providing founders with a comprehensive support system and strategic guidance from a network of consultants who are equally passionate and committed to the gaming industry.”
It has offices in several of the world’s gaming and technology centers including San Francisco, Los Angeles, New York, Reykjavik, London, Tokyo and Singapore.