Hiro Capital Launches $340 Million Fund for Games and Metaverse

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European venture capital firm Hiro Capital today announced its second games fund. The fund, called Hiro Capital II, has a total value of €300 million, or approximately $340 million. According to Hiro, the fund is intended to support new gaming and metaverse-based ventures.

This is the second fund that Hiro has launched in three years. The predecessor of this fund, Hiro Capital 1, was launched in 2019 at €115 million (approximately $130 million). According to Hiro, the first fund made 21 investments, including studios Polyarc, Flavorworks, Keen, Snowprint and Happy Volcano.

The latest fund will invest in “early-stage games and metaverse innovators with global potential,” Hiro said. It will invest in teams in Europe, the UK and North America.

Luke Alvarez, managing general partner and one of the founders of Hiro Capital, said in a statement: “In 2022, we are at a pivotal time in the very early stages of the metaverse, VR, AR and Web3 – these revolutions will take at least a few years. decade and much of the creativity and technological innovation starts in games. As a team we have the experience and networks to support the incredible talent we find in Europe, the UK and beyond. Our new fund gives us more firepower to support emerging stars find and develop them and bring them to a global scale.”

Earlier this year, Hiro Capital 1 became the title sponsor of Hiro Metaverse Acquisitions 1, a SPAC focused on gaming and the metaverse. The SPAC has raised £115 (about $150 million) from institutional investors.

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