Sections

CrossCut Venture to invest in games and esports after raising $125 million fund

Gaming an esports represent "growing area of importance"

Los Angeles venture capital firm CrossCut Ventures has raised $125 million for its fourth seed fund.

As reported by VentureBeat, the LA fund will invest its newfound capital into a host of startups, including software-as-a-service, artificial intelligence, virtual and augmented realities, games, and esports.

Having surpassed its initial target of $100 million, the new fund amounts to more than all three of the company's previous funds combined.

Among the list of prior investments are esports franchise Immortals, mobile gaming livestream app Mobcrush, and developer Super Evil Megacorp.

CrossCut Ventures was founded in 2008 by Brian Garrett, Brett Brewer, and Rick Smith. Back in 2013 the firm brought on Immortals chairman and co-founder Clinton Foy as general partner to invest in games and esports.

Speaking with VentureBeat, managing director Brian Garrett said: "Gaming and esports don't have a set allocation, but our effort to bring Clinton on board in 2013 was a conscious move.

"It's a growing area of importance across areas like AR, VR, gaming, esports, and frontier technologies."

Related stories

Sumo Group valued at 145m in IPO

Offering a "significant step forward" in Sumo's journey, says CEO

By Haydn Taylor

Funcom takes $10.6 million investment ahead of licensing push

Norwegian developer has co-founded a company to manage interactive rights of Robert E. Howard IPs

By Matthew Handrahan

Latest comments

There are no comments on this article yet. Why not be the first to post one?

Sign in to contribute

Need an account? Register now.