Top 13 Venture Capital Firms Investing in Gaming Startups
Seeking capital for your gaming startup? This guide lists 13 active VCs. Once funded, Rho’s platform helps you manage your new cash flow.
Rho Editorial Team
When preparing to raise capital for your gaming startup, finding investors who truly understand your space is crucial. The right partner knows the specifics of the interactive entertainment, esports, or web3 markets and can offer more than just a check.
To help you find a good match, our team curated this overview of top gaming venture capital firms. Use this guide to quickly get familiar with the most active VC firms investing in the industry, from seed stage to later stages.
Rho provides access to business banking, corporate cards, and bill pay—built for startup teams moving fast.
Key Takeaways
Securing venture funding provides the capital needed to develop your game, grow your team, and expand your market reach.
The gaming industry has many active investors, with firms like Makers Fund, The Venture Reality Fund (VRF), Diverse Angels, and Powerhouse Capital being notable backers of new companies.
Whether you are raising or have just closed a round, Rho helps you manage your capital with fast business banking, corporate cards, and automated bill pay.
Which VC Firms in Gaming Are Right for Your Stage?
Whether you’re an early-stage founder or preparing for an exit, it helps to know which investors to talk to. Here is a quick overview of VC firms in gaming, broken down by the stages they invest in.
Pre-seed and Seed VC Firms in Gaming
Pre-seed and seed funding is typically the first capital you'll raise to build your minimum viable product and find your initial users. For founders at this stage, Los Angeles-based Diverse Angels and Transcend Fund are active seed venture capital firms, as is the Austin-based accelerator Sputnik ATX.
Early Stage VC Firms in Gaming
Early-stage funding, like Series A or B, is for startups that have product-market fit and are ready to scale their operations and team. Some early-stage VC firms with a focus on gaming and related tech include The Venture Reality Fund, which invests in AI and spatial computing, and Powerhouse Capital, a media and entertainment venture capital firm.
Late Stage VC Firms in Gaming
Late-stage capital is for established companies looking to accelerate growth, expand globally, or prepare for an exit like an acquisition or IPO. Notable late-stage venture capital firms include Nelstone Ventures and Moonshots Capital, both of which have backed companies through to an IPO or major acquisition.
Once funding is secured, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—help startups manage and deploy capital efficiently.
Keep in mind that some VC firms, like Makers Fund, invest across all startup funding stages.
To help you find the right fit, here is more information on the top VC firms in the gaming industry. You’ll find details on their investment stages, where they invest, and what sets them apart for founders.
1. Makers Fund
Makers Fund is a global venture capital firm that invests in interactive entertainment. They support companies across all funding stages, from initial seed rounds to later growth stages.
The firm has a strong track record in the gaming industry, with notable exits like the acquisition of esports platform FACEIT and game-streaming tech company Parsec. This history shows their ability to back companies from development studios to core technology platforms through to major financial outcomes.
This firm is a strong potential partner if you are building a company in the interactive entertainment space. Their broad-stage focus means they can be a long-term investor, whether you're just starting out or preparing to scale.
Investment stages: Seed, early stage, and late stage venture
Industries of focus: Interactive entertainment and gaming
Geographical presence: Global, with headquarters in San Francisco
Founded: 2017
Notable investments: FACEIT, Parsec, TinyBuild, Typhoon Studios
Portfolio size: Over 120 investments
You can refer to their website here.
2. The Venture Reality Fund/VRF
The Venture Reality Fund, or VRF, is an early-stage venture capital firm focused on companies building the future of digital interaction. They primarily invest in startups specializing in artificial intelligence and spatial computing, including virtual and augmented reality.
VRF has a clear focus on foundational tech, with a portfolio that includes the Emmy-winning VR animation studio Baobab Studios and Owlchemy Labs, the developer of Job Simulator which was acquired by Google. This shows their ability to identify and back companies with strong product-market fit in immersive entertainment and enterprise applications.
This firm is a great match if you are a founder at the seed or early stage building a company with deep technical roots in AI, AR, or VR. Their track record suggests they are a strong partner for teams creating category-defining software and content.
Investment stages: Seed and early stage venture
Industries of focus: Artificial Intelligence (AI), Spatial Computing (AR/VR), Gaming, Software
Geographical presence: Burlingame, California
Founded: 2016
Notable investments: Owlchemy Labs, Baobab Studios, Strivr
Portfolio size: 64 investments
You can refer to their website here.
3. Diverse Angels
Diverse Angels is a Los Angeles-based angel group and venture capital firm focused on increasing representation in the investment community. They primarily back companies at the seed and early stages across a wide range of technology sectors.
The firm invests across many industries, including gaming, software, and healthcare, signaling a focus on strong founding teams over a narrow sector. Their portfolio includes esports platform Players’ Lounge and the fintech unicorn Republic, showing their ability to back high-growth companies.
This firm is a good match if you are an early-stage founder building in sectors like gaming, fintech, or health-tech and value an investor with a broad network. Their mission suggests they are a strong partner for teams who prioritize a diverse and inclusive capital base.
Investment stages: Seed and early stage venture
Industries of focus: Gaming, Software, Blockchain, E-Commerce, Health Care, Payments
Geographical presence: Los Angeles, California
Founded: 2021
Notable investments: Players’ Lounge, Republic, Sounder (successful exit)
Portfolio size: 53 investments
You can refer to their website here.
4. Powerhouse Capital
Powerhouse Capital is a Los Angeles-based venture firm that invests in technology, media, entertainment, and interactive gaming. They focus on opportunities where these sectors intersect, backing companies from their earliest stages.
The firm supports companies from seed rounds to private equity, signaling a capacity for long-term partnership. Their portfolio is defined by major consumer brands with high-profile exits, including podcast network Wondery and subscription sports site The Athletic.
Powerhouse is a strong fit if you are a founder building a consumer-facing company in media, entertainment, or gaming with ambitions for significant scale. Their track record suggests they excel at identifying and supporting businesses that become household names.
Investment stages: Seed, early stage, late stage venture, and private equity
Industries of focus: Media and Entertainment, Gaming, Music, Video, Audio
Geographical presence: Los Angeles, California
Founded: 2019
Notable investments: Wondery, The Athletic, MasterClass, Calm, Epic! Kids
Portfolio size: 24 investments
You can refer to their website here.
5. Valhalla Ventures
Valhalla Ventures is a Los Angeles-based firm that invests in companies with strong, defensible advantages, or "enduring moats." They back founders from the seed stage onward across a range of deep-tech and industrial sectors.
The firm’s portfolio shows a clear preference for companies tackling difficult technical problems, from space tech and biotech to advanced manufacturing. Notable investments include K2 Space, which builds large satellite platforms, and Biofire, the developer of a biometric smart gun.
Valhalla is a good fit for founders building businesses with a significant technological or scientific foundation. While they invest in gaming, they are best suited for companies whose core innovation creates a high barrier to entry for competitors.
Investment stages: Seed and early stage venture
Industries of focus: Gaming, Space Travel, Biotechnology, Advanced Materials, Sustainability
Geographical presence: Los Angeles, California
Founded: 2020
Notable investments: K2 Space, Biofire, Terran Biosciences, Rain
Portfolio size: 23 investments
You can refer to their website here.
6. 500 Emerging Europe
500 Emerging Europe is a venture capital firm that supports early-stage founders from developing European markets. The firm focuses on helping these startups expand their operations and enter the global stage.
They invest across B2B software, including AI, SaaS, and developer tools, as well as gaming. Their portfolio demonstrates an ability to back companies to major outcomes, with investments like the unicorn Carbon Health and a successful exit with Newoldstamp.
This firm is a strong choice for founders based in an emerging European country who have global ambitions. If you are building a company in enterprise software, AI, or gaming and need a partner to help you expand, they are a good fit.
Investment stages: Seed and early stage venture
Industries of focus: Artificial Intelligence (AI), Developer Tools, Enterprise Software, Gaming, SaaS
Geographical presence: San Francisco, with a focus on founders from emerging Europe
Founded: 2016
Notable investments: Carbon Health, Averon, Newoldstamp (successful exit)
Portfolio size: 61 investments
You can refer to their website here.
7. Moonshots Capital
Moonshots Capital is an Austin-based firm that invests across a company’s full lifecycle, from seed to late stage. The firm’s core philosophy is to back founders who demonstrate extraordinary leadership.
Their portfolio is defined by high-profile unicorns and major exits, including Slack, Robinhood, and the mobile-gaming publisher Scopely. This track record shows a focus on companies with the potential for massive scale and market-defining outcomes.
This firm is a strong match for founders with ambitious, category-defining ideas and a clear vision for execution. Their emphasis on leadership suggests they are looking for experienced teams ready to build large, impactful businesses.
Investment stages: Seed, early stage, and late stage venture
Industries of focus: Cyber Security, Finance, Gaming, Transportation, Wearables
Geographical presence: Austin, Texas
Founded: 2014
Notable investments: Slack, Robinhood, Scopely, ID.me, Pacaso
Portfolio size: Over 140 investments
You can refer to their website here.
8. Sputnik ATX
Sputnik ATX is an Austin-based venture capital fund and startup accelerator that focuses on funding "maker-founders." They provide capital and mentorship to individuals who are deeply involved in building their products from the ground up.
The firm’s model as both an accelerator and VC signals hands-on support for early-stage companies. Their portfolio is diverse, with investments in gaming, enterprise software, and consumer brands, including the exited AI website-builder Vybe and the reg-tech platform Cognitive View.
Sputnik ATX is a strong match for founders who are hands-on builders looking for a program with both capital and structured support. Their broad industry focus makes them a fit for many sectors, especially for teams based in or willing to relocate to Austin.
Investment stages: Seed and early stage venture
Industries of focus: Gaming, Enterprise, Retail, Beauty, Social, and more
Geographical presence: Austin, Texas
Founded: 2017
Notable investments: Vybe, Cognitive View, Kargoplex, LAMIK
Portfolio size: Over 116 investments
Investor type: Accelerator and venture capital fund
You can refer to their website here.
9. Electric Feel Ventures
Electric Feel Ventures is the venture capital arm of Electric Feel Entertainment, a music and entertainment company. They invest in early-stage consumer technology and packaged goods startups.
The firm’s portfolio is heavily focused on companies at the intersection of consumer culture and technology. Investments in influencer-led Chamberlain Coffee, celebrity co-founded Goodles, and crypto-payments firm MoonPay show a strategy of backing brands with strong cultural relevance and viral potential.
This firm is an excellent partner for founders building consumer-facing businesses in areas like gaming, food and beverage, or beauty. Their connection to the entertainment industry provides a distinct advantage for startups looking to build a strong brand presence.
Investment stages: Seed and early stage venture
Industries of focus: Consumer, Gaming, Music, Food and Beverage, Beauty
Geographical presence: Miami, Florida
Founded: 2020
Notable investments: MoonPay, Chamberlain Coffee, Goodles, United Talent Agency
Portfolio size: 49 investments
You can refer to their website here.
10. Elizabeth Street Ventures
Elizabeth Street Ventures is a New York-based firm that invests in early-stage companies. They concentrate on digital consumer businesses and partner with teams that show an obsessive attention to the customer experience.
The firm’s focus is on consumer-centric companies, with investments across fintech, wellness, and consumer goods. Their portfolio includes the fintech unicorn Current and several successful exits, such as the acquisitions of Costa Brazil and RISE Brewing Co.
This firm is a strong match for founders building consumer brands or digital products with a direct-to-consumer model. Teams that prioritize an exceptional customer journey will find Elizabeth Street Ventures to be a well-aligned partner.
Investment stages: Seed and early stage venture
Industries of focus: Consumer Goods, FinTech, Gaming, Wellness, Payments
Geographical presence: New York, New York
Founded: 2018
Notable investments: Current, Costa Brazil (acquired), Banyan (acquired), RISE Brewing Co. (acquired)
Portfolio size: 38 investments
Once funding is secured, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—help startups manage and deploy capital efficiently.
You can refer to their website here.
11. Transcend Fund
Transcend Fund is an early-stage venture capital firm that invests in companies building the future of games and digital entertainment. They focus on backing founders from the seed stage onward, providing capital for new interactive experiences.
The firm’s portfolio shows a focus on both game creators and the technology that powers digital worlds, from VR pioneers like Stress Level Zero to Web3 infrastructure like the Polygon network. Their investments include the critically acclaimed studio thatgamecompany and Singularity 6, which saw a successful exit.
Transcend Fund is a good match for early-stage founders building anything from a new game studio to the underlying technology for digital interaction. Their portfolio suggests an appreciation for both creative game design and deep technical innovation.
Investment stages: Seed and early stage venture
Industries of focus: Gaming, Digital Entertainment, Social Media, Web3
Geographical presence: San Francisco, California
Founded: 2020
Notable investments: Polygon, thatgamecompany, Singularity 6 (acquired), Stress Level Zero
Portfolio size: 32 investments
Once funding is secured, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—help startups manage and deploy capital efficiently.
You can refer to their website here.
12. Shanda Group
Shanda Group is a private investment group founded in 1999 that operates as a family office, private equity firm, and venture capital investor. This flexible structure allows them to invest across a wide range of opportunities and asset classes.
The firm invests across the full company lifecycle, from seed rounds to post-IPO public companies. Their portfolio shows a strategy of taking significant, influential stakes in public companies like LendingClub, alongside venture investments in companies like the analytics platform WhizAI.
Shanda Group is a good match for founders at any stage who are building companies in finance, gaming, or healthcare. Their history of taking large, strategic positions suggests they are a strong partner for teams seeking a long-term investor with significant influence.
Investment stages: Seed, early stage, late stage venture, private equity, and post-IPO
Industries of focus: Gaming, Financial Services, Health Care, Robotics
Geographical presence: Menlo Park, California
Founded: 1999
Notable investments: LendingClub, Legg Mason, Community Health Systems, WhizAI
Portfolio size: 35 investments
Investor type: Family Investment Office, Private Equity Firm, Venture Capital
Once funding is secured, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—help startups manage and deploy capital efficiently.
You can refer to their website here.
13. Nelstone Ventures
Nelstone Ventures is a New York-based firm that invests in technology companies across various stages of growth. They support businesses from their initial seed funding through to later rounds.
The firm has a history of backing category-defining companies through to major public market debuts and acquisitions. Their portfolio includes marquee exits like the Twitch acquisition by Amazon and the IPOs of Coinbase and Unity Technologies, showing a focus on businesses with massive scale potential.
Nelstone is a strong partner for founders with ambitious goals who are building companies in sectors like gaming, e-commerce, or enterprise software. Their track record indicates they are well-suited for teams aiming for an IPO or a significant acquisition.
Once funding is secured, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—help startups manage and deploy capital efficiently.
Investment stages: Seed, early stage, late stage venture, and secondary market
Industries of focus: E-Commerce, Enterprise Software, Gaming, Health Care, Internet
Geographical presence: New York, New York
Founded: 2015
Notable investments: Twitch, Coinbase, Unity Technologies, Palantir, Flexport
Portfolio size: 42 investments
You can refer to their website here.
What This Tells Us About The VC Scene for Gaming Companies
This list shows a healthy funding environment for gaming companies, with significant support available for early-stage founders. Many of these firms concentrate on pre-seed, seed, and Series A rounds, which is encouraging if you are in the initial phases of building your company. There are also several investors who participate in later rounds, offering a path for continued growth.
Geographically, investment activity is strong in established technology centers like California and Texas, but firms in New York and Miami show that capital is accessible across the country. The variety of investors—from accelerators to multi-stage VCs and family offices—means you have different types of potential partners to consider, each offering unique resources and perspectives.
Once you secure your funding, our integrated financial tools—including business banking, corporate cards, and automated bill pay—help you manage and deploy that capital efficiently.
Raise Confidently with Rho
Fundraising requires significant time and focus, which is why approaching the right investors from the start is so important. We created this list to help you concentrate your efforts on the firms most aligned with your company.
When you close your round, the work of managing that capital begins. Rho can help you set up your financial stack in minutes, offering integrated business banking, corporate cards, and bill pay to help you manage your new funds efficiently.
FAQs about Venture Capital Firms Focused on Gaming
What do early-stage VC firms in gaming look for?
Early-stage VCs look for a proven concept with initial traction and a clear path to growth. They want to see a strong founding team with relevant experience and a plan for scaling operations and user acquisition effectively.
Are there gaming VC firms in Los Angeles?
Yes, Los Angeles is a major hub for gaming investment. Firms like Powerhouse Capital, Valhalla Ventures, and Diverse Angels are based there, actively funding companies in interactive entertainment, media, and related technologies from their earliest stages.
Which New York venture capital firms invest in gaming?
New York has a strong community of investors for gaming startups. Firms such as Nelstone Ventures and Elizabeth Street Ventures are based in the city, backing companies in gaming, fintech, and consumer digital products across multiple funding stages.
What is the difference between angel investors and venture capital firms?
Angel investors are typically wealthy individuals who invest their own money in early-stage startups. Venture capital firms invest larger amounts of pooled capital from institutions and partners, often providing more structured support and taking a board seat.
How do I find web3 venture capital firms?
Many gaming-focused VCs now have a Web3 thesis, with firms like Transcend Fund actively investing in the space. You can also find specialists by researching portfolios of successful Web3 projects and attending industry-specific conferences and demo days.
How can I manage my capital after raising a round?
Once your funding is secured, managing it well is key. Rho provides an integrated platform with business banking, corporate cards, and automated bill pay to help you deploy your new capital efficiently and with full control.