Newsbrief: The venture capital firm LVP has raised $80 million to continue its investments in game development and technology startups, a funding legacy that has so far included the likes of Rising Thunder dev Radiant and Sensible Object.
With that money raised, LVP is able to seek out investments for its third game startup fund and support early phase game development and game technology companies. LVP co-founder David Gardner notes in a press release that, to date, LVP has only invested in 1.5 percent of the companies it has evaluated, but that its metric-driven approach has “given us the ability to recognize patterns, trends, and disruptive ideas very early on.”
The firm itself was founded by Gardner and David Lau-Kee, who between them have experience at companies like Supercell, Natural Motion Playfish, and Unity. A number of the fund’s recent benefactors have gone on to join the ranks of other well-known studios, including Sensible Object, acquired by Niantic earlier this year, and Boomlagoon, acquired by Wargaming in 2016).