Andreessen Horowitz (a16z), a leading venture capital fund, has announced that it will invest $30 million in tech-centric gaming startups, including AI, virtual/augmented reality and Web3 games. "We're investing at the intersection of TECH x GAMES, which means AI/infra, 3D tools, VR/AR, Web3 games, gamified consumer apps and much more," announced Andrew Chen, an a16z general partner who oversees the a16z Games Fund One. The $30 million will be invested over the next 45 days via a16z's "SPEEDRUN" accelerator program.
Investment in technology games
The a16z SPEEDRUN program consists of a 12-week training course, with participants supported with capital, industry advisors, mentors and a "community of ambitious entrepreneurs". Chen said a16z was open to a range of startups, from teams only at the idea stage to teams with an established product and real revenues.
Competition to enter the SPEEDRUN program is intense, with only 1% of applications accepted in the latest cohort. However, Chen reported that 80% of companies in SPEEDRUN's first cohort secured funding from investors after Demo Day.
Outlook for the future
Tech gaming startups focused on AI, virtual/augmented reality and Web3 games are booming, and a16z is ready to invest in these areas because of their growth potential. The $600 million a16z Games Fund One, which launched in 2022, includes investments in companies such as Roblox, Sandbox and Sky Marvis, the creators of blockchain game Axie Infinity.
Conclusion
Andreessen Horowitz has announced that it will invest $30 million in tech-centric gaming startups, including AI, virtual/augmented reality and Web3 games. The a16z SPEEDRUN accelerator program offers 12 weeks of training for startups, with capital, industry advisors, mentors and a community of ambitious entrepreneurs.
