Singapore-based gaming venture capital firm Play Ventures announced Monday that its debut Fund I has generated a return of 1.5 times to investors in distributed capital (DPI) in less than four years.

The firm said in a statement that with 20 companies remaining in the portfolio and six years to go in the fund lifetime, that figure is set to further increase significantly.

Since the inception of Play Ventures in December 2018, the firm has invested in over 100 unique gaming studios, content, tooling and service companies.

Its debut Fund I, which was launched early 2019, has already seen a few notable exits, including Reworks, a mobile gaming studio acquired by Playtika for $600 million; Dataseat, a business to business (B2B) mobile marketing technology company acquired by Verve Group; Savage Game Studios, a shooter game development studio acquired by PlayStation Studios.

With Fund II, the firm has already seen the exits of both Alter and Loupedeck to leading technology companies.

With 20 companies remaining in the Fund I portfolio, including such success stories such as Gamefam,, MPL and others, the firm said it strived to continue delivering even better returns to its investors and working together with its founders to help them build global success stories.

“We’re also glad to share that Play Ventures Fund II, Opportunity Fund and Play Future Fund have had strong starts with two exits and also has several rapidly growing companies including Odeeo, Original Games, Fliff, Freedom Games, Appcharge, INCRMNTAL, Nefta, XDEFI and many others,” the firm said.

According to the firm, gaming today is going through a period of flux and paradigm shifts thanks to massive changes in IDFA, privacy regulations, the emergence of blockchain, and more.

“While our investment focus areas will also shift with and in anticipation of macro changes and trends, our core principles remain unchanged and steadfast (highlighting founders, authenticity and gaming),” it said.

It said the firm plans to double-down on being founder-first and is actively looking to strengthen its team with a number of operational team key hires: Head of Events, Head of Talent, and Head of merger and acquisition (M&As).

It also said the firm nurtured authenticity within play and also seek this vital characteristic in the founders it backs.

It also noted that gaming is on track to become a $300 billion market, larger than all other forms of entertainment combined.

“We will continue to invest across the entire value chain, including studios building for mobile, personal computer (PC), and console, but also in tooling and infrastructure companies that enable groundbreaking innovations,” it said.

It highlighted that the firm’s investments are therefore also global and will remain global, spanning across the United States, Europe, and Asia.

“We have already built an impressive portfolio in the gaming hubs of Israel and Turkey, and will continue to double down on similar emerging key ecosystems,

“By fostering partnerships in these emerging regions and beyond, we remain committed to shaping the future of gaming,” it added.

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