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Play Ventures has raised $135 million for second fund to spend money on recreation startups. The Play Ventures Fund II may have $135 million to take a position on the earth’s greatest recreation makers an entrepreneurs, stated Harri Manninen, head of the fund, in an e mail to GamesBeat.
The fund is far bigger than the corporate’s earlier $40 million fund, and altogether the corporate may have $175 million to spend money on recreation corporations.
The firm has been busy. Since December 2018, Play Ventures has invested in 24 game companies in 10 international locations.
“These companies, though still very early in their collective journeys, are already making huge waves,” Manninen stated. “We’re confident that there’ll be more great things to come from these companies and the wonderful founders from our portfolio.”
With Fund II, the corporate nonetheless believes gaming would be the most impactful and dominant type of leisure within the twenty first century. There are dozens of game venture capital funds now with the identical desires, and so they’re name investing in recreation corporations.
“We have strong conviction that the best gaming teams can be founded and built anywhere in the world. We plan to continue investing in early stage game developers and gaming service startups globally, and to expand into ecosystems that we’re incredibly excited about, like India and Latin America,” Manninen stated.
The firm invested in India’s All-Star Games’s $1.5 million pre-Series A spherical.
“We are also in the process of closing multiple new deals across the world that we will share about in due course,” Manninen stated.
Besides Manninen, the agency was cofounded by Henric Suuronen.
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