According to a Form D filing with the SEC, Sisu Game Ventures, a pre-seed and seed fund that invests in game startups, has raised $ 50 million for the first close of its new fund. However, the company declined to comment.
Sisu’s Paul Braigel, which launched in 2014, however commented that the company made several investments over the summer, including in the new venture of a Zynga founder. Members of the Sisu team have been involved as entrepreneurs, operators and investors in companies such as Remedy, Unity, Disney, Niantic, Funcom and EA.
The fund has made 14 investments to date. Half in existing portfolio companies, such as Resolution Games and Lightheart Entertainment, and the remainder in new additions, including Theorycraft Games, Playco, and Core Loop.
Braigel said the Sisu III fund’s investor base comes almost exclusively from the games industry, including global studios like Supercell, platform owners and publishers like Sony and Ubisoft, as well as individual studio founders. .
Bragiel said: “A number of founders in the Sisu family have started several successful businesses and these are the kind of founders we like to support. Our goal is that if we invest once in a founder, we hope to support all the future businesses they create ”.
Sisu says he invests before a product is ready and the metrics are there, he also works with individual founders in a “studio builder” format.
Recent examples include Lightheart Entertainment with its debut Mr. Autofire game, as well as Mainframe Industries with their yet to be announced cloud native MMO.
So far, the fund has had 8 exits, including the acquisition of Small Giant Games by Zynga for 700 million, but also the acquisition of King Hatrabbit, the acquisition of Helsinki Gameworks by Next Games and the acquisition of Kopla Games by Flaregames.