Top 7 Venture Capital Firms Investing in Video Games Startups

For founders in the video games space, knowing which investors truly understand your industry is critical when preparing to raise capital. Finding a partner who recognizes the unique product and market dynamics of the gaming world can significantly shape your company’s trajectory.

To help you find the right fit, our team created this overview of top venture capital firms that invest in gaming. It’s a straightforward resource to help you identify relevant investors before or during your fundraise.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho also provides access to business banking, corporate cards, and bill pay—built for startup teams moving fast.

Key Takeaways

• Securing venture funding gives your gaming startup the capital to grow and a partner who understands the industry’s specific product and market dynamics.

• VCs like The Games Fund, BITKRAFT Ventures, Powerhouse Capital, and Valhalla Ventures are active backers of companies in the gaming space.

• Whether you are actively raising or have just closed a round, our platform helps you manage your new capital with fast business banking, corporate cards, and automated bill pay.

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

Whether your company is in its early stages or preparing for an exit, knowing the right investors to talk to is key. Here is a quick overview of VC firms that invest in the video games industry at each stage.

Pre-seed and Seed VC Firms in Video Games

This is the earliest round of funding, intended to help you turn an idea into a minimum viable product and gain initial traction. Some gaming venture capital firms that focus here include The Games Fund and Transcend, which both specialize in backing founders from the very beginning.

As you prepare for these early conversations, Rho Capital can also help you explore non-dilutive funding options like venture debt to complement your equity raise.

Early Stage VC Firms in Video Games

Early-stage funding, like Series A or B, is for companies with a proven product looking to scale their team and user base. Among the many early stage VC firms, Los Angeles-based investors like Valhalla Ventures and Crush Ventures are active in this space.

Late Stage VC Firms in Video Games

Late-stage rounds support established companies as they prepare for major growth, potential acquisitions, or an IPO. For founders seeking this type of capital, late stage VC firms like BITKRAFT Ventures and Powerhouse Capital have a track record of backing more mature companies.

It's also worth noting that some investors, such as Shanda Group, are stage-agnostic and invest across the entire company lifecycle. Once you secure funding at any stage, our integrated financial tools—including business banking, corporate cards, and automated bill pay—help you manage and deploy your new capital efficiently.

Here is a closer look at some of the top VC firms in the video games industry. We’ve included key details on their investment stages, geographic focus, and what makes each firm a compelling choice for founders.

1. The Games Fund

The Games Fund is an early-stage venture capital firm founded by veterans of the video games industry. Based in Los Angeles, they focus exclusively on backing promising companies in the gaming space.

The firm shows a clear preference for teams with strong product vision and innovative technology. Their portfolio includes companies like Drama Studios, creator of the hyper-realistic shooter UNRECORD, and the award-winning, AI-driven games-tech company Layer AI.

This firm is a strong match for founders with deep industry experience who are building a new game or developing technology for game creators. As you prepare for your equity raise, Rho Capital can also help you access non-dilutive funding to complement your round.

• Investment stages: Early Stage Venture, Seed
• Industries of focus: Video Games
• Geographical presence: Los Angeles, California
• Founded: 2020
• Team background: Founded by video games industry veterans
• Notable investments: Dark Passenger, Zakazane, Layer AI, UNRECORD
• Portfolio size: 28 investments

You can refer to their website here.

2. BITKRAFT Ventures

BITKRAFT Ventures is an investment platform focused on gaming, esports, and interactive media. With a global presence, the firm backs founders building at the intersection of entertainment and technology.

The firm is known for its broad investment scope, supporting companies from seed to late stage. Its portfolio includes some of the industry's most influential companies, such as Epic Games and Discord, signaling a focus on foundational platforms and breakout hits.

BITKRAFT is a strong partner for founders creating category-defining games or core infrastructure for the gaming world. Once you secure funding, our integrated financial tools—including business banking, corporate cards, and automated bill pay—help you manage and deploy your new capital efficiently.

• Investment stages: Seed, Early Stage, Late Stage, ICOs
• Industries of focus: Digital Entertainment, eSports, Video Games, Virtual Reality
• Geographical presence: San Francisco, California
• Founded: 2015
• Notable investments: Epic Games, Discord, CCP Games, Immutable
• Portfolio size: 190 investments

You can refer to their website here.

3. Powerhouse Capital

Powerhouse Capital is a Los Angeles-based venture fund that invests in technology, media, entertainment, and interactive gaming. The firm supports companies across these converging sectors, from early-stage concepts to more established businesses.

The firm has a strong record of backing consumer brands that achieve major exits, including podcast network Wondery and meditation app Calm. This focus on high-growth, category-defining companies signals their interest in businesses with mass-market appeal.

Powerhouse is a good match for founders building companies at the intersection of media and technology, especially those with a clear path to becoming a household name. Once you secure funding, our integrated financial tools—including business banking and corporate cards—help you manage and deploy your new capital efficiently.

• Investment stages: Early Stage Venture, Late Stage Venture, Private Equity, Seed
• Industries of focus: Audio, Events, Gaming, Media and Entertainment, Music, Ticketing, Video, Video Games
• Geographical presence: Los Angeles, California
• Founded: 2019
• Notable investments: Wondery, The Athletic, Epic! Kids, MasterClass, Calm
• Portfolio size: 24 investments

You can refer to their website here.

4. Valhalla Ventures

Valhalla Ventures is a Los Angeles-based firm that invests in companies with what it calls “enduring moats.” While they invest in gaming, their focus is broad, covering deep tech sectors from space travel and biotech to advanced manufacturing.

The firm’s approach is centered on businesses with strong defensive advantages, often rooted in complex technology or science. This is clear from portfolio companies like K2 Space, which builds satellite platforms, and Biofire, the developer of a biometric smart gun.

Valhalla is a strong match for founders building highly technical products, whether in gaming or other specialized industries. If your company has a significant scientific or engineering barrier to entry, this firm is likely to understand your value proposition.

As you prepare for these early-stage conversations, Rho Capital can help you explore non-dilutive funding options like venture debt to complement your equity raise.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Gaming, Space Travel, Biotechnology, Sustainability, Advanced Materials
• Geographical presence: Los Angeles, California
• Founded: 2020
• Investment thesis: Backs companies building enduring moats
• Notable investments: Biofire, K2 Space, Jaza, Rain
• Portfolio size: 23 investments

You can refer to their website here.

5. Transcend Fund

Transcend Fund is an early-stage venture firm based in San Francisco that invests in games and digital entertainment. They support founders from the seed stage onward, focusing on companies shaping the future of play.

The firm backs a wide range of companies, from critically acclaimed studios like thatgamecompany to foundational Web3 infrastructure like Polygon, which became a rare crypto “decacorn.” Their portfolio also includes VR pioneers Stress Level Zero and the cozy MMO developer Singularity 6, which was acquired in 2024, showing a clear focus on product-led companies with strong technical or creative foundations.

Transcend is a great fit for founders building ambitious games or the platforms that support them. Once you secure funding, our integrated financial tools—including business banking, corporate cards, and automated bill pay—help you manage and deploy your new capital efficiently.

• Investment stages: Early Stage Venture, Seed
• Industries of focus: Video Games, PC Games, Console Games, Online Games, Social Media, Video Streaming
• Geographical presence: San Francisco, California
• Founded: 2020
• Notable investments: Polygon, thatgamecompany, Singularity 6, Stress Level Zero, Bunch
• Portfolio size: 32 investments

You can refer to their website here.

6. Shanda Group

Shanda Group is a private investment firm founded in 1999 by Tianqiao Chen and Chrissy Luo. While it has deep roots in the video games industry, the firm has since expanded into a global investment group with a broad focus across multiple sectors.

The firm is stage-agnostic, backing companies from seed rounds to post-IPO. Their portfolio shows a strategy of taking significant stakes in public companies like LendingClub and Community Health Systems, alongside venture investments in tech startups like WhizAI.

Shanda is a compelling partner for founders with long-term vision, regardless of their company's current stage. Once you secure funding, our integrated financial tools—including business banking and corporate cards—help you manage and deploy your new capital efficiently.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Post-IPO, Private Equity
• Industries of focus: Gaming, Video Games, Finance, Health Care, Robotics
• Geographical presence: Menlo Park, California
• Founded: 1999
• Notable investments: LendingClub, Legg Mason, Sotheby’s, Community Health Systems, WhizAI
• Portfolio size: 35 investments
• Investor type: Family Investment Office, Private Equity Firm, Venture Capital

You can refer to their website here.

7. Crush Ventures

Crush Ventures is a Los Angeles-based firm that invests in early-stage companies where media and commerce intersect. They focus on founders building brands with strong consumer appeal.

The firm’s portfolio shows a focus on businesses with pop-culture relevance and viral growth potential, often amplified by celebrity partnerships. Notable investments include AI audio tool AudioShake and the Miley Cyrus-backed tanning line Dolce Glow.

Crush is a good match for founders building consumer brands with a clear path to mass-market adoption, especially if your strategy involves media partnerships or celebrity endorsements. Once you secure funding, our integrated financial tools—including business banking and corporate cards—help you manage and deploy your new capital efficiently.

• Investment stages: Early Stage Venture, Seed
• Industries of focus: Consumer Goods, Media and Entertainment, Music, Video Games
• Geographical presence: Los Angeles, California
• Founded: 2000
• Notable investments: Yola Mezcal, AudioShake, Dolce Glow, Dance Church
• Portfolio size: 28 investments

You can refer to their website here.

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

This overview shows that the video games industry attracts a varied group of investors. You’ll find dedicated gaming funds alongside generalist firms that invest in media, consumer brands, and even deep tech. There is a strong concentration of capital at the early stages, which is good news for founders seeking seed or Series A funding. Geographically, this list highlights a significant investor presence in California.

This variety means you can be selective about who you pitch. A highly technical game might appeal to a firm with a deep tech focus, while a game with mass-market potential could be a fit for a consumer-focused investor. After you secure funding, our integrated platform helps you manage that new capital efficiently with tools for business banking, corporate cards, and automated bill pay.

Raise Confidently with Rho

Having a focused list of relevant investors is invaluable when your time and energy are limited during a fundraise. It allows you to concentrate on the conversations that are most likely to lead to a strong partnership.

If you’re seeking funding, Rho Capital connects you to non-dilutive funding options like venture debt and credit lines through a fast, guided process. We help you access financing tailored to your stage and business model without chasing lenders.

Once your capital is secured, our integrated platform helps you manage and deploy it efficiently. Rho provides the tools you need—business banking, corporate cards, and automated bill pay—to help your startup grow.

FAQs about Venture Capital Firms Focused on Video Games

Which are the top gaming venture capital firms in NYC?

While California is a major hub, New York has a growing scene. Firms like Insight Partners and Courtside Ventures are active in the gaming and media space, offering capital and strategic support for founders on the East Coast.

Are there video game venture capital firms in Europe?

Yes, Europe has a strong ecosystem for gaming investment. Firms like London Venture Partners and Agnitio Capital specialize in the industry, providing capital and support for companies across the UK and continental Europe.

What do early stage VC firms look for in a game studio?

Early stage investors focus on your team’s experience, a clear product vision, and early signs of community engagement. A playable demo that shows unique gameplay mechanics can significantly strengthen your pitch.

Should I pitch to a specialist gaming VC or a generalist firm?

Specialist funds offer deep industry knowledge and a relevant network. Generalist firms may have broader consumer expertise. Consider your company’s needs: a niche game may benefit from a specialist, while a platform play could attract a generalist.

How can Rho help my startup get funded?

We connect you with non-dilutive financing options like venture debt and credit lines. Rho provides a guided process to access capital tailored to your business model, helping you extend your runway and grow efficiently.