Valhalla Ventures raises $66M to invest in deeptech and gaming
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Valhalla Ventures has launched a $66 million venture capital fund to invest in startups in the deeptech and gaming sectors.
The firm wants to back “audacious entrepreneurs” who challenge the status quo and push the boundaries of science and engineering. It has already invested in 15 startups since early 2022.
The debut fund will focus on seed-stage companies in deeptech, such as materials science, biology, energy generation/storage, and space technology, as well as novel and underfunded gaming firms with an emphasis on social experiences, said Devan Malhotra, general partner and head of Valhalla’s gaming practice, in an interview with GamesBeat.
Valhalla Ventures is an early-stage investor that focuses on technologies and ideas years before they enter the mainstream, Malhotra said. The firm will continue to make new investments until early 2025.
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“Capital is scarce right now, especially for first time funds like us, so we’re honored to be backed by some of the world’s best founders, family offices, executives, and corporations,” said Malhotra. “We want to bring venture back to its original promise, when Georges Doriot and the early investors in Silicon Valley worked hand-in-hand with the world’s boldest and zaniest entrepreneurs to solve the world’s hardest problems.”
He added, “The VC industry has lost its way. Too many funds spray and pray into ‘tier 1’ led deals while spending more time tweeting and fundraising than working with portfolio companies. We want to
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