Play Ventures secures $140 million to support early-stage game studios

Venture capital firm Play Ventures has raised $140 million for its third games funding round. 

As reported by VentureBeat, this is the company’s biggest fund yet, bringing its total assets to $450 million as it continues to support early-stage studios. 

Focusing on free-to-play mobile titles, Singapore and Helsinki-based Play Ventures will use the funds to invest in more early-stage studios with a focus on AI-enhanced tools for games, gaming infrastructure and distribution channels. 

Since closing the funds in June 2023, Play Ventures has already made eight investments. Fund III will focus on “playable apps” and invest in 20-25 early-stage companies globally, from pre-seed to Series A, while reserving capital for top performers.

Mobile at the forefront 

“Software may have eaten the world, but mobile has swallowed our time whole,” said Play Ventures’ founding partner Henric Suuronen. “People now live on their phones – spending hours a day engaging with social media, apps, and, most notably, games.” 

“Mobile gaming is one of the most dynamic arenas of our time, presenting massive, untapped potential. With Fund III, we’re investing in a new wave of billion-dollar games and interactive experiences, supercharged by the transformative power of AI.”

Play Ventures’ co-founder Harri Manninen added: “With Fund III, we are committed to supporting these brave founders who are creating new business, regardless of market sentiment. It’s an exciting time to invest in new gaming startups and technologies and help drive the industry forward.”