High enterprise capital agency Andreessen Horowitz introduced on Monday it plans to take a position $30 million in a number of startups.
“I am investing $30 million within the subsequent 45 days through the a16z Speedrun program,” a16z Normal Associate Andrew Chen posted to X. “$750,000 per startup that joins the Speedrun program … we’ll make investments, work with you, expose you to the world’s prime traders/mentors, and so forth.”
Chen helps oversee the agency’s Sport Fund One, a $600 million fund launched nearly two years ago. Though Video games Fund One invests in numerous gaming-adjacent applied sciences, together with synthetic intelligence, digital actuality, augmented actuality and extra, it additionally funds web3 startups.
Video games Fund One contains the founders of profitable tech and gaming corporations, together with Roblox, Discord, Riot Video games and Sky Mavis co-founders Aleks Larsen and Jeffrey Zirlin. Sky Mavis created “Axie Infinity,” the primary blockchain recreation to draw a bigger variety of avid gamers.
In a LinkedIn put up from final yr, Chen stated the fund was “very centered on studios, web3, and infrastructure” throughout its first yr and deliberate to focus extra on synthetic intelligence throughout its second yr.
Parallel to Video games Fund One, a16z has, by its crypto division, made a number of investments in blockchain-based gaming corporations. A16z has invested in blockchain gaming corporations like Legendary Video games and Voldex.
Early accelerator for gaming-adjacent startups
In response to a16z, Speedrun is an “early-stage accelerator for startups on the intersection.”
“Our intensive 12-week program is very selective, with ~ 1% of candidates accepted in our final cohort,” stated Chen. “Members are supported not simply with capital, but in addition by a extremely curated set of trade coaches, mentors, and a group of formidable founders.”
The appliance deadline for Speedrun is Could 19, Chen additionally stated on X.
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