Play Ventures aims to invest $30 million in video game startups
Newsbrief: A fledgling venture capital fund with $30 million at its disposal has been set up to invest in video games from all walks of game-related life.
That venture capital fund, Play Ventures, is looking to invest both in game development studios and in companies that create tools related to video games in a variety of ways, though the fund's leadership isn't entirely interested in esports or crypto projects just yet.
The fund, however, is focusing on newer startups and aims to get investments to promising companies in the early stages of operation.
Already, Play Ventures has invested in three companies and, according to VentureBeat, is looking to dole out six to eight investments a year, with a target sum of around $500,000 each. The fund’s leadership says it’s looking to invest in companies that are working with streaming, marketing, user acquisition, and other areas in addition to game development studios.