Venture capital firm Makers Fund has secured $250 million to invest in startups advancing games and interactive entertainment. This brings its total assets under management to $1.5 billion.
Founded in 2016, Makers Fund raised $180 million in its initial round. Since then, it has returned 3.6 times its invested capital, including its early investment in Dream Games through to exit. The Turkish mobile developer was valued at nearly $5 billion last year after a strategic investment from CVC.
After raising a record $500 million in 2022, Makers is looking to fund “leading interactive entertainment creators” in its fourth fund. The firm has expanded beyond games “into consumer apps, entertainment, and creation platforms.”
Makers also invested in FaceIt before Savvy Gaming Group acquired it in 2022, as well as in Voldex, now one of the largest publishers on Roblox.
The firm has also backed companies beyond gaming in the broader interactive entertainment sector, such as generative AI platform PixAI and game clipping platform Medal.tv, which supports AI research lab General Intuition.
“Makers was founded on the belief that creators are the constant, even as the landscape shifts around them,” said general partner Jay Chi.
“Fund 4 is that belief, doubled down. Today’s founders are navigating new user behaviours, new distribution models, and a wave of fresh technology – and we think it’s a powerful moment to back the companies that will define the next era.”
General partner Michael Cheung added: “The industry keeps evolving, and so will we. Equity, project financing, marketing financing – whatever it takes to help our founders build generational companies, that’s the partner we want to be.”