Top venture capital firm Andreessen Horowitz announced Monday plans to invest $30 million in several startups.
“We will be investing $30 million over the next 45 days through the a16z Speedrun program.” a16z General Partner Andrew Chen Posted in. “$750,000 per startup participating in the Speedrun program… We will invest, partner with you, and introduce you to the best investors/mentors in the world.”
Chen helps oversee Game Fund One, a $600 million fund that launched nearly two years ago. Games Fund One invests in a variety of game-related technologies such as artificial intelligence, virtual reality, and augmented reality, but also provides funding to web3 startups.
Games Fund One includes founders of successful technology and gaming companies, including Roblox, Discord, Riot Games, and Sky Mavis co-founders Aleks Larsen and Jeffrey Zirlin. Sky Mavis created “Axie Infinity”, the first blockchain game to attract more gamers.
Chen said in a LinkedIn post last year that the fund was “very focused on studios, web3 and infrastructure” during its first year and planned to focus more on artificial intelligence in its second year.
In parallel with Games Fund One, a16z has made several investments in blockchain-based gaming companies through its cryptocurrency division. A16z has invested in blockchain gaming companies such as Mythical Games and Voldex.
Early accelerator for gaming-related startups
According to a16z, Speedrun is “an early-stage accelerator for startups at the crossroads.”
“Our intensive 12-week program is very selective and only about 1% of applicants are accepted into the final cohort,” Chen said. “Participants receive not only capital, but support from a highly curated community of industry coaches, mentors and aspiring founders.”
Chen also said that the application deadline for Speedrun at X is May 19.
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