Valhalla Ventures Launches $66 Million Fund for Gaming and Deeptech Startups
Valhalla Ventures, a venture capital firm, has announced the launch of a new $66 million fund that will be invested in gaming and deeptech startups. The firm is specifically targeting ambitious entrepreneurs who are pushing the boundaries of science and engineering. Since the beginning of 2022, Valhalla Ventures has already invested in 15 startups, including Incredible Dream, 1v1me, and mobile metaverse platform Bunch.
“Capital is scarce right now, especially for first time funds like us, so we’re honored to be backed by some of the world’s best founders, family offices, executives, and corporations,” said Devan Malhotra, Valhalla’s general partner and head of gaming practice. “We want to bring venture back to its original promise, when Georges Doriot and the early investors in Silicon Valley worked hand-in-hand with the world’s boldest and zaniest entrepreneurs to solve the world’s hardest problems.”
Malhotra also expressed concern about the state of the venture capital industry, stating that many funds focus on popular deals and spend more time on social media and fundraising rather than working closely with portfolio companies. Valhalla Ventures aims to differentiate itself by building a concentrated portfolio across non-traditional areas, such as gaming and deeptech, and by actively collaborating with the engineers, creatives, and scientists who are shaping the future.
Success in Funding
In the gaming space, Valhalla Ventures plans to target underfunded and innovative companies, with a particular emphasis on creating social experiences. Gaming investments will make up approximately one-third of the fund’s total investments, with individual companies receiving investments ranging from $1 to $2 million.
Bunch, a mobile metaverse platform, praised Valhalla Ventures for their valuable insights and connections in the media and entertainment industry. Selcuk Atli, the founder of Bunch, said, “Any founder would be lucky to have them in their corner.”
On the deeptech side, Valhalla Ventures will be looking for groundbreaking ideas and novel approaches. General partner Rohan Pujara explained, “We want to go and find out who’s building something completely new or taking an approach that everyone is ignoring.”
In October, Valhalla Ventures participated in a $4 million funding round for ByteBrew.