Behold Ventures Bags $59M to Fuel Europe’s Next Gen Game Studios
Swedish games investment crew Behold Ventures just raised a chunky $59M to back early-stage European game studios, mostly in Northern Europe.
The fund was oversubscribed; they aimed for $52.5M, but money kept flowing.
Breakdown?
54% came from Europe, 44% from Asia, and a lonely 2% from North America. Investor mix includes strategics (43%), institutions (42%), and a sprinkle of wealthy folks, family offices, and Behold’s own partners.
Since launching in 2021, Behold’s first fund has already deployed $21M into 18 startups, mostly across the Nordics with a few UK picks. Target is 25 in total for Fund I, and they’re already eyeing Fund II — fundraising starts later this year.
Big players like Krafton, NetEase, and even the European Investment Fund (marking its first-ever gaming bet) are onboard, bringing both cash and clout.
Co-founder Karl Magnus Troedsson says closing a fund in today’s rocky macro landscape is “a huge win.” While other VCs have ghosted gaming, Behold’s doubling down, betting that games aren’t just entertainment, but the most engaging media format out there.
