Makers Fund

Makers Fund & Tyler Matheson - Research Document Investment Thesis Makers Fund is a global venture capital firm dedicated to backing the builders of the future of interactive entertainment. The fund invests across games, content, platforms, and ecosystem technologies, with a deep conviction that interactive entertainment is evolving rapidly and that visionary founders are driving this transformation. The firm partners with innovative, ambitious teams from inception through scale, providing not just capital but strategic guidance and access to an extensive global network of industry allies and partners. Stage Focus Makers Fund operates across all early-stage funding rounds with significant flexibility: Pre-Seed to Seed : Foundation-building investments with emerging teams Series A and Beyond : Growth and scale for portfolio companies with product-market fit Broad approach : Unlike many gaming VCs with narrow stage focus, Makers Fund backs teams from product inception through global scale The fund supports founders across their entrepreneurial journey, emphasizing long-term partnership and operational support beyond capital deployment. Check Size Typical investment range: $500K - $40M Seed-stage checks typically range $1M-$5M Series A investments in the $3M-$15M range Growth-stage follow-on investments scaling to $20M+ This wide range allows Makers to participate in various funding rounds and company sizes, from indie studios to scaling platforms. Fund Details Fund III (Current): Closed at $500M in March 2022 Total AUM: Over $1 billion across multiple funds Location: Global presence in San Francisco, London, Tokyo, and Singapore Team: 11+ investment professionals plus venture partners and advisors Investment Focus Areas Makers Fund divides its portfolio across three strategic categories: Content: Games, interactive media, and story-driven experiences Indie game studios to AAA-backed developers Story-driven games and narrative experiences (e.g., Hidden Door, Storygrounds) Mobile, console, and PC gaming Ecosystem: Web3 gaming, monetization platforms, community tools Gaming infrastructure and tooling Streaming and esports (e.g., GGWP, Loco) Web3 gaming and blockchain integration Creator monetization (e.g., Whalo, Highlight) Platform & Tools: Development infrastructure, AI-powered creation tools, distribution Game development tools (e.g., Modrinth, Mod.io) AI tools for game creation and spatial reasoning (e.g., General Intuition, PixAI) Publishing and distribution platforms Lead Tendency Makers Fund leads regularly while remaining flexible: Leads seed rounds for portfolio companies Co-leads Series A investments Participates in later-stage rounds for portfolio follow-ons Takes board seats in lead investments Partners closely with co-investors and ecosystem players Recent activity shows consistent lead positions in early-stage rounds (Human Computer $5.7M seed led by Makers in March 2025, General Intuition $134M seed October 2025). Recent Activity & Fund Status Fund Status: Actively deploying Fund III capital Last Known Activity: January 15, 2026 (Midnite investment) Recent Notable Investments (2025-2026): January 15, 2026: Midnite - Entertainment software October 16, 2025: General Intuition ($134M seed) - AI agents learning spatial reasoning from game footage July 7, 2025: BetaDwarf (with Square Enix) - Vaultbreakers developer May 21, 2025: VOYA Games/Craft World ($5M) May 1, 2025: Dream Games ($5bn valuation in CVC deal) March 13, 2025: Human Computer ($5.7M seed) - Story-driven games Portfolio Scale: 100+ active companies with significant recent deployment activity Notable Portfolio Exits Makers Fund's portfolio demonstrates strength across exits and strategic acquisitions: Acquired by Major Publishers/Platforms: FACEIT → Savvy Gaming Group Good Shepherd → Devolver Digital Loco → Redwood Parsec → Unity Unit 2 Games → Facebook Games Typhoon Studios → Google Two Hat Security → Microsoft Savage Game Studios → Sony Popcore → Zynga Public Markets: TinyBuild → LSE AIM Market IPO Other Notable Outcomes: SuperData → Nielsen (acquired) 40+ other successful outcomes and growth-stage companies Team & Decision Making Decision Process: Partnership approach with strong operational support Multiple investment partners review opportunities Founder-friendly culture with deep industry expertise Average decision timeline: 2-4 weeks for interested deals Key Team Members: Jayson Chi (Founding Partner) - Long-time gaming VC leader Lia Zhang (Investor) - Gaming sector specialist Michael Cheung (Investor) Andrea Yang (Investor) Jay Chi (Investor) Curtis Urbanowicz (Investor) Andrew Willson (Investor) Alli Ottarsson (Investor) Jiang Li (Investor) Ryann Lai (Investor) Tyler Matheson (Principal) - Interactive media and applications focus Yoyo Yang (Investor) Yohei Ishii (Investor) Walter Paleari (Investor) Venture Partners: Matthew Ball (esports/entertainment), Anna Sweet, Donovan Duncan Advisors: Joost van Dreunen (gaming analyst), Greg Gunadi, and industry leaders Geographic Focus Primary: North America (SF Bay Area, Los Angeles) Secondary: Europe (London) Growth: Asia-Pacific (Tokyo, Singapore) Actively seeks globally distributed teams and serves founders across all major gaming hubs. Tyler Matheson - Principal Profile Current Role: Principal at Makers Fund, focused on interactive media and applications investment Background: Previously: Slide Monkey (Consultant/Strategy) at Deloitte Education: University of Southern California Location: Los Angeles area Investment Thesis: Partnering with founders building the future of how we play, watch, create, and live Current Portfolio Support: Human Computer, The Game Band, Modrinth, Treehouse Games, Storygrounds, Stoke Games, Cashmere AI, Riftweaver, Millions of Monsters Tyler represents a new generation of gaming VCs who combine strategic consulting experience with deep passion for interactive entertainment. His focus on infrastructure tools (Modrinth), developer communities (The Game Band), and story-driven experiences reflects Makers Fund's evolution toward supporting the full ecosystem of game development. Founder Preferences Makers Fund backs: Passionate creators deeply committed to interactive entertainment Technical founders with shipped titles or proven experience Visionary teams willing to take creative risks Ambitious but measured founders with realistic roadmaps Industry veterans as much as first-time founders Investment Approach & Values Embracing the Industry: Passion for interactive entertainment drives desire for industry growth and innovation Faith in Founders: The industry's past, present, and future is powered by visionaries. Makers provides capital, strategic guidance, and access to global network Charging Forward Together: Deep knowledge, experience, and global network allow Makers to stay attuned to shifting landscape and support founders through uncertain times Warm Introductions Warm introductions recommended. Fund receives high volume of inbound and prioritizes introductions through existing portfolio, advisors, and ecosystem partners. Research completed January 29, 2026 Data sources: Official website, team listings, portfolio data, LinkedIn, Crunchbase, news coverage, fund announcements Confidence: High across all major fields