Venture capital giant Andreessen Horowitz (a16z) has launched its first gaming fund and plans to invest $600 million in game studios, game-related consumer applications and infrastructure.
"Today, we are proud to announce GAMES FUND ONE, a16z's first fund dedicated to building the future of the gaming industry. After more than a decade as investors in this space, it's clear to us that the industry has entered a new era, and there's no better time than now to launch a fund focused on supporting the next generation of game developers," a16z team members Andrew Chen, Jonathan Lai and James Gwertzman wrote in a blog post.
The company said its fund, Games Company ONE, is "based on the belief that games will play a critical role in how we interact, play and work in the next century."
A16z is not a company specializing in cryptocurrencies, but it has become one of the biggest names in the field. Last summer, the company committed $2.2 billion to its third crypto fund, which was the largest crypto fund in history until Paradigm unveiled its $2.5 billion vehicle in November.