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VentureBeat
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Vgames raises $142M for its third fund for gaming
- Vgames has raised $142m for its third gaming fund to support game studios across different stages to back founders as they grow.
- The fund is led by Eitan Reisel and Daniel Mironov, while previous funds amounted to $60m in 2020 and $141m in 2021.
- Vgames has invested in 38 companies globally, including 'gamification' deals, achieving exits in the billions of dollars.
- Notable investments include InnPlay Labs (acquired by Playtika for up to $300m), SuperPlay (acquired by Playtika for up to $1.95bn).
- Vgames is known for its close relationships with entrepreneurs and a specialised and hands-on team of Mironov, Reisel, David Digmi and Riki Papa Pnini.
- The fund invests across all stages of a company - from early days to A and growth rounds - and has recently led an undisclosed $50m round in one of its portfolio companies.
- Reisel expects AI to have a value in bringing down production costs but says he does not see it replacing game makers anytime soon.
- Although cross-platform games have arrived in a big way, the Virginia-based fund does not buy into blockchain games or the metaverse or AI trends.
- Vgames intends to keep the same investment rhythm and deploy capital quickly to grow its portfolio and support its existing portfolio.
- Vgames expects to hire its first investor outside of Israel in its goal to deploy if the firm finds suitable opportunities.
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