Gaming VC firm Play Ventures closes first fund at $40m

Play Ventures, an early-stage gaming venture capital fund, announced the final closing of its first fund at US$40 million, exceeding the original targeted fund size by US$10 million.

Play Ventures founders Harri Manninen (left) and Henric Suuronen / Photo credit: @xtalkay

The Singapore-based VC firm was founded by two seasoned gaming entrepreneurs, Henric Suuronen and Harri Manninen, who had successful exits to game developer King and Disney, respectively. It invests in pre-seed and seed-stage gaming startups globally, with a focus on free-to-play mobile and PC opportunities.

Suuronen added that the fund also invests in the best teams, particularly those with world-class ambition.

According to a statement, Angry Bird maker Rovio, esports and gaming entertainment company Modern Times Group, and Anton Gauffin, CEO of social gaming giant Huuuge Games, are among Play Ventures I Fund’s investors.

Since December 2018, the firm, which also has an office in Helsinki, has closed eight investments in gaming companies, including Finland-based Redhill Games, Vietnam-based Gamejam, and Turkey-based Bigger Games.