Theorycraft Games raises $50 million to maintain long-term focus on talent and play

THE ANGELS–(BUSINESS WIRE)–Theorycraft Games announced today that it has raised an additional $50 million in Series B funding, led by Makers Fund with participation from NEA and a16z. Theorycraft Games will use this raise to continue building the most accomplished team in games and to ensure they can continue to create deep, 10,000 hour games that are simply better when played with friends, like the first company’s game, codenamed Loki.

Featuring an expansive cast of unique heroes, Loki, is a competitive, team-based game full of adventure, creativity and high-stakes combat. Drawing inspiration from Theorycraft’s collective experiences of the past, working on titles such as League of Legends, overwatch, Haloand APPRECIATE.

“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.”

Over the past 18 months, Theorycraft Games has attracted a small but mighty team made up of the best developers in the world, including art leadership from APPRECIATE, overwatchand Arcanetechnical leadership of VALORANT, League of Legends and Teamfight Tacticsand design/product leadership of Halo, Destiny, Legends of Runeterra and League of Legends. In May they were joined by Legends of Runeterra game director Andrew Yip, and, most recently, League of Legends game director Jon Belliss.

“What has attracted both talent and investors to our business is our belief that great games serve basic human needs, and a studio committed to meeting those needs — over market trends, new technology, or endless sequels — is a great opportunity to make an impact on the industry we love,” said Joe Tung, CEO and co-founder. founder of Theorycraft Games. “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 would love to hear from you!”

Theorycraft Games has hosted remote playtests with real players for most of the studio’s existence, with their biggest playtest coming in a few weeks. For more information about Theorycraft Games and Loki, visit For North American PC players interested in playtesting Lokivisit

About Theory Games

Theorycraft Games is an independent game studio with a mission to create deep, 10,000-hour games that are simply better when played with friends. Theorycraft was founded in December 2020 by Joe Tung, Mike Tipul, Michael Evans, Areeb Pirani and Moby Francke – former studio leaders at Riot Games, Bungie, Blizzard and Valve Software. Together they led the development of games such as: League of Legends, Halo, Destiny, overwatch, APPRECIATE, dotA 2and Team Fortress 2.

Theorycraft Games is a completely remote studio, with roots in Los Angeles, Irvine and Seattle.

About Makers Fund

Makers Fund is a global interactive entertainment venture capital firm focused on early stage investments. Makers is committed to fostering growth and innovation in the interactive entertainment industry. With more than 90 portfolio companies to date, Makers provides strategic value for the founders with a strong focus on companies across the industry value chain. For more information, visit

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