European investment firm Hiro Capital has launched a $340 million fund to support games and metaverse projects. The fund, called Hiro Capital II, as it is the second fund launched by the company, will be used to bring game and metaverse projects to life with 300 million euros ($ 340 million).
The company’s previous investment fund, Hiro Capital 1, invested in 21 studios, including Polyarc, Flavourworks, Keen, Snowprint, and Happy Volcano studios, with a budget of approximately $130 million. According to Hiro, this new fund will support early-stage projects with potential. Primarily, investments will be made in teams in Europe, the UK, and North America.
Luke Alvarez, Managing General Partner and one of Hiro Capital’s founders, said:
“In 2022, we are at a pivotal moment in the very early phases of the metaverse, VR, AR, and Web3 — these revolutions will take at least a decade, and much of the creativity and technology innovation will start in games. As a team, we have the experience and networks to support the incredible talent that we find across Europe, the UK, and beyond. Our new fund gives us more firepower to find and develop emerging stars and level them up to global scale.”
