Top 7 Venture Capital Firms Investing in Video Games Startups

For founders in the video games industry, preparing to raise capital means more than just perfecting your pitch. It’s about finding investors who truly understand the gaming space. The right partner brings not just money, but valuable experience and connections that can help your company succeed.

To help you identify potential partners, our team at Rho curated this guide to the top venture capital firms investing in gaming. We've focused on the investors who are active in the industry to help you build a targeted list for your fundraise.

Just raised, or about to? Set up your financial stack with Rho in minutes. We provide business banking, corporate cards, and bill pay—built for startup teams moving fast.

Which VC Firms in Video Games Are Right for Your Stage?

Knowing who to talk to is crucial at every stage, from your first round to a potential exit. Here’s a quick look at which VC firms in the video games industry invest at each stage.

Pre-seed and Seed VC Firms in Video Games

Pre-seed and seed rounds are typically your first institutional capital, meant to help you build your initial product and find market fit. For founders in the video games industry, some seed venture capital firms to know are The Games Fund and Transcend.

Early Stage VC Firms in Video Games

Early-stage funding, which includes Series A and B, is for companies that have a product and are ready to scale their operations and user base. Among the many early stage VC firms, you might consider Crush Ventures and Valhalla Ventures, which focus on this phase of growth.

Late Stage VC Firms in Video Games

Late-stage rounds are for more mature companies looking to expand significantly, prepare for an exit, or make strategic acquisitions. Late stage VC firms like Shanda Group and Powerhouse Capital are examples of investors that participate in these later rounds.

Keep in mind that some gaming venture capital firms, such as BITKRAFT Ventures, invest across multiple stages from seed to late-stage growth.

To help you find the right fit, here is a closer look at some of the leading venture capital firms in the video games sector, including their preferred investment stages, geographic focus, and what makes each firm a distinctive choice for founders.

1. The Games Fund

The Games Fund is an early-stage venture capital firm established by veterans of the video games industry. They focus on backing companies in the seed and early stages of development.

The firm's team is composed of experienced operators from the gaming world, and they invest in both game studios and the technology that supports them. Their portfolio includes companies like Dark Passenger, a studio founded by developers who worked on The Witcher 3.

This firm could be a great partner if you're an early-stage founder looking for investors who bring more than capital to the table. Their team's background suggests they can provide practical guidance for building and launching new games.

• Investment stages: Seed and early-stage
• Industry focus: Video games
• Geographical presence: Los Angeles, California
• Founded: 2020
• Team background: Founded by video games industry veterans
• Portfolio size: 28 investments
• Notable investments: Dark Passenger, Layer AI, Drama Studios

You can refer to their website here.

2. BITKRAFT Ventures

BITKRAFT Ventures is a global investment firm focused on gaming, esports, and interactive media. They support companies across multiple funding stages, from seed rounds to late-stage venture.

The firm is known for backing some of the most influential companies in the industry, including Epic Games, Discord, and CCP Games. This history, combined with their multi-stage investment approach, signals a capacity to support companies from their earliest days to major market success.

This firm is a strong potential partner if you are building a company in gaming or interactive media and are looking for an investor with a long-term perspective. Their track record suggests they are well-equipped to support companies with high-growth potential.

• Investment stages: Seed to late-stage
• Industry focus: Gaming, esports, digital entertainment, and virtual reality
• Geographical presence: San Francisco, California
• Founded: 2015
• Portfolio size: 190 investments
• Notable investments: Epic Games, Discord, CCP Games, Immutable

You can refer to their website here.

3. Powerhouse Capital

Powerhouse Capital is a Los Angeles-based venture firm that invests in technology, media, entertainment, and interactive gaming. They support companies across a wide range of sectors, from audio and music to video and events.

The firm invests from seed rounds through late-stage and private equity, showing a capacity to back companies for the long haul. Their portfolio features major consumer brands with significant exits, such as The Athletic, which was acquired by The New York Times, and the popular meditation app, Calm.

This firm could be a good match if you're building a consumer-focused company in media or gaming with high-growth potential. Their track record suggests a strength in identifying and supporting businesses that become household names.

• Investment stages: Seed, early-stage, late-stage, and private equity
• Industry focus: Media, entertainment, gaming, and consumer technology
• Geographical presence: Los Angeles, California
• Founded: 2019
• Portfolio size: 24 investments
• Notable investments: Wondery, The Athletic, MasterClass, Epic! Kids, Calm

You can refer to their website here.

4. Valhalla Ventures

Valhalla Ventures is a venture capital firm that invests in companies from seed to early-stage venture. While they invest in the video games industry, their focus is much broader, extending into sectors that solve fundamental, real-world problems.

The firm’s strategy is built around "investing in enduring moats," meaning they back companies with strong, defensible competitive advantages. Their portfolio includes businesses in deep tech and hard-to-replicate industries, such as K2 Space, which builds satellite platforms, and Biofire, a developer of biometric smart guns.

Valhalla Ventures may be a good partner if your company is built on a significant technological or scientific innovation. Founders creating businesses with high barriers to entry will likely find the firm’s focus on defensible technology to be a good fit.

• Investment stages: Seed and early-stage venture
• Industry focus: Gaming, biotechnology, space travel, sustainability, and advanced materials
• Geographical presence: Los Angeles, California
• Founded: 2020
• Portfolio size: 23 investments
• Notable investments: K2 Space, Biofire, Jaza, Rain

You can refer to their website here.

5. Transcend Fund

Transcend Fund is an early-stage venture firm that invests in companies building the future of games and digital entertainment. They provide seed and early-stage capital to founders working on everything from PC and console games to social media and video streaming platforms.

The firm supports a broad definition of digital interaction, backing not only game studios like thatgamecompany but also foundational Web3 infrastructure like Polygon. This diverse portfolio suggests a focus on founders with ambitious ideas across the digital spectrum, not just traditional game development.

Transcend Fund could be a strong partner if you are an early-stage founder in gaming or a related digital media space. Their investments show an appetite for both critically acclaimed creative projects and highly technical platforms with significant scale.

• Investment stages: Seed and early-stage venture
• Industry focus: Video games, digital entertainment, and social media
• Geographical presence: San Francisco, California
• Founded: 2020
• Portfolio size: 32 investments
• Notable investments: Polygon, thatgamecompany, Singularity 6, Stress Level Zero

You can refer to their website here.

6. Shanda Group

Shanda Group is a private investment firm founded in 1999 that operates across a wide range of industries, including the video games industry, finance, and healthcare. They are a global investment group with a diverse portfolio, not a traditional venture capital fund.

The firm is known for its flexible, multi-stage investment strategy, participating in everything from seed rounds to private equity and post-IPO deals. They often take significant, strategic stakes in public companies, such as their investment in LendingClub, where they became the largest shareholder.

This firm may be a good fit for founders with a long-term vision, particularly those in finance or healthcare technology. Given their history, they are also a strong potential partner for mature companies looking for an influential investor for late-stage growth or public market entry.

• Investment stages: Seed, early-stage, late-stage, post-IPO, and private equity
• Industry focus: Gaming, finance, healthcare, and robotics
• Geographical presence: Menlo Park, California
• Founded: 1999
• Portfolio size: 35 investments
• Notable investments: LendingClub, Legg Mason, Community Health Systems, WhizAI

You can refer to their website here.

7. Crush Ventures

Crush Ventures is an early-stage venture firm that invests in companies operating at the intersection of media and commerce. Based in Los Angeles, they focus on sectors like consumer goods, music, social media, and the video games industry.

The firm backs consumer brands with strong cultural relevance, often amplified by celebrity partnerships and viral marketing. Their portfolio includes companies like Dolce Glow, a tanning line backed by Miley Cyrus, and AudioShake, an AI audio tool that gained major traction on TikTok.

This firm is a strong potential partner if you are building a consumer-facing business that can leverage media and entertainment for growth. Founders whose go-to-market strategy relies on cultural trends and high-profile partnerships will find their approach particularly fitting.

• Investment stages: Seed and early-stage venture
• Industry focus: Media, entertainment, music, consumer goods, and video games
• Geographical presence: Los Angeles, California
• Founded: 2000
• Portfolio size: 28 investments
• Notable investments: Dolce Glow, AudioShake, Dance Church, Yola Mezcal

You can refer to their website here.

What This Tells Us About The VC Scene for Video Games Companies

This review of venture capital firms shows a healthy and varied funding scene for companies in the video games industry. Founders like you can approach both dedicated gaming funds and generalist investors with broader experience in consumer technology and media. This choice allows you to find a partner whose expertise best aligns with your company’s specific needs, whether that’s deep industry knowledge or a track record in building mainstream brands.

Our list indicates strong support for early-stage companies, with many firms focused on seed and Series A rounds. At the same time, the presence of multi-stage investors means capital is available for growth and late-stage development. It is also clear that many of these key investors are based in California, a factor to consider as you plan your outreach.

Raise Confidently with Rho

Fundraising is demanding, and your time is a valuable resource. Using a focused list of investors helps you connect with partners who understand the video games industry and are ready to support your vision.

If you’ve just raised or are about to close a round, we’re here to support your next steps. Rho can help you set up your financial stack in minutes so you can get back to building your company.

Our platform provides everything you need to manage your new capital efficiently. We offer business banking, corporate cards, and bill pay solutions built for startup teams moving quickly.

FAQs about Venture Capital Firms Focused on Video Games

Are there top gaming venture capital firms in Europe?

Yes, Europe has a strong ecosystem for gaming investment. Firms like London Venture Partners and Agnitio Capital are active in the region, supporting founders from seed through later stages. You can find great partners across the continent.

How should I approach early stage VC firms for my game?

Start with a warm introduction if possible. Prepare a concise pitch deck highlighting your team's experience, the game's unique hook, and your business model. Focus on firms that have previously invested in your genre or stage.

Should I pitch to tech venture capital firms or gaming-specific ones?

It depends on your company. Gaming-specific VCs offer deep industry knowledge, while generalist tech firms may provide broader consumer market experience. Consider which type of expertise will be more valuable for your specific growth plans.

What do VCs look for in a video game startup?

Investors typically want to see a strong, experienced team, a clear vision for the game, and a well-defined target market. Demonstrating early traction or a unique technological advantage can also make your pitch much more compelling.

How can Rho help after I secure funding from a VC firm?

Once your round is closed, our platform helps you manage your new capital with integrated business banking, corporate cards, and automated bill pay. Get started with Rho to organize your company's finances.