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Monday, October 6, 2025

Andreessen Horowitz’s Gaming-Focused Fund

  • VC firm Andreessen Horowitz is raising a new venture fund.
  • The fund is exclusively for gaming startups.
JD Lasica/Design: Alex Brooks

Andreessen Horowitz is reportedly raising a new venture fund exclusively for gaming startups, according to Business Insider.

The new fund marks the sixth for Andreessen Horowitz in the last 18 months and allows the firm to broaden its reach in a global video game industry valued at more than $300 billion.

Video games are familiar territory for the firm: It led a $150 million funding round in February 2020 for online game creation platform Roblox, valuing the company at $4 billion. 

Andreessen Horowitz has made a series of sports- and video game-related investments in recent months. 

  • It was included in a $20 million Series A round in July for Virtually Human Studio, the developer behind blockchain-based digital horse racing game “Zed Run.” 
  • The same month, it led a $100 million Series B round for Open Sea, an auction platform for NFTs. 
  • Earlier this month, the firm led a $40 million round for fantasy sports startup Sleeper, valuing the company at $400 million
  • The same week, it led a $300 million Series E round for SpotOn, the parent company of Appetize, a payment platform that covers 65% of all major U.S. league sports stadiums. 

Andreessen established a $2.2 billion crypto fund in June for blockchain-based startups, its largest to date. The firm currently has $19.2 billion in assets under management.

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