Ex-Riot employees raise $55M for new studio The Believer Company
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The Believer Company, founded by game veterans from Riot Games and other companies, has raised $55 million to create a new game studio in Los Angeles.
That’s a huge amount for a brand-new studio with just 12 people, but it’s also a testament to the background of the founders. CEO Michael Chow is a former Riot Games veteran who served as executive producer of League of Legends: Wild Rift, and he was also cofounder of Words With Friends developer Newtoy.
Chow is joined by cofounder Steven Snow, chief product officer. Snow was a founding member of Riot Games and he helped build the studio’s player-focused culture and was the executive producer of League of Legends. Snow had retired a while back and came back to cofound The Believer Company. But Chow talked him into joining the ambitious new project.
“This is the best team in games. And I think that part of what happened was that we got some of the world’s best investors and then the more that snowballed,” Chow said. “And then the dream is very powerful. It’s we’re not trying to do just another thing. We’re trying to do something pretty big and dreamy. A great open world game will change the world.”
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They aren’t announcing the game yet. The goal is to build a world-class, remote-first team to deliver a next-generation open-world game, anchored by an original intellectual property. Snow said the game would have stories where player choices matter, and gameplay systems that bring
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