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Independent developer Theorycraft has announced an additional $50 million in Series B funding. This latest investment round was led by Makers Fund with the participation of NEA and a16z. The company is in active development on their first title – codename Loki.
“Outside the talent base pedigree, we have been consistently impressed with Theorycraft’s pace of development and the quality of what they have delivered in less than two years,” said Jay Chi, founder of Makers Fund. “Joe and team have created the perfect concoction in making modern games – a systems-first, no-BS, ‘get-things-done’ culture combined with deep design flair and a voracious community-oriented approach.”
Theorycraft will use Series B funding to ramp up development and talent acquisition for their first game, Loki. It’s a “competitive, team-based adventure,” which makes a lot of sense when you look at their family tree. The team comes from several major, competitive multiplayer titles such as League of Legends, Valorant and Destiny.
“What has drawn both talent and investors to our business is our belief that great games meet basic human needs, and a studio that is committed to meeting those needs – more than market trends, new technology or endless sequels – is a great opportunity to make an impact. about the industry we love,” said Joe Tung, CEO and co-founder of Theorycraft Games, in a press release. “If you are a game developer who wants more autonomy and more impact; if you want to focus on making the deepest games in the world; if you want to serve an incredible community that has helped us this far, we’d love to hear from you!”
One of the aforementioned talents is John Belliss, former game design leader for League of Legends. Before his time as a design leader, Belliss led several teams for League of Legends and Valorant.
“Riot was a really great trip,” said Jon Belliss. “Having spent over ten years there, it felt like time to try something new, especially now with the myriad of new gaming startups that have formed. When evaluating my options, I chose Theorycraft because I realized that there is no shortage of great ideas, but there is a shortage of developers who know how to balance player focus and running a successful game-as-a-service. I believe in Theorycraft’s ability to do this exceptionally well. I’m really excited to be working with the talented team here and looking forward to building a game worth players’ time and passion.”
Theorycraft is currently looking for talent. If you think they might be for you, check out their site here.
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