coindesk.com
Venture capital giant Andreessen Horowitz (a16z) has launched its inaugural gaming fund with plans to invest $600 million across game studios, gaming-related consumer apps and infrastructure.
“Today, we are proud to announce GAMES FUND ONE, a16z’s inaugural fund dedicated to building the future of the games industry. Having been investors in this space for more than a decade, it’s clear to us the industry has entered a new era, and there is no better time than now to build a fund focused on supporting the next generation of games builders,” wrote a16z team members Andrew Chen, Jonathan Lai, and James Gwertzman in a blog post.
The company said its fund, Games Company ONE, is “founded on the belief that games will play a pivotal role in defining how we socialize, play, and work over the next century.”
A16z isn’t a crypto native firm but has become one of the largest names in the space. Last summer, the firm allocated $2.2 billion for its third crypto fund, which was the largest crypto fund in history until Paradigm debuted its $2.5 billion vehicle in November.
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