Thread by kiet

twitter.com
1 Recommender
1 Mention
Recommend
Post
Save
Complete
Collect
Thread
A @cloudxgmf and @0xkapital_k collab:

"Fund of Fun"

A series of deep dives into the gaming investment landscape -- focusing on Web2 & Web3 VCs. Starting with one of the largest funds.

Hope you guys enjoy

Episode 1: Intro to a16z's GAMES FUND ONE
"Partner with us and you won't need a publisher."

I'm paraphrasing here but DAMN that's a bigggg game-changer(!?)

Some notes on @DeconFun podcast with @Tocelot (GP of a16z's $600M GAMES FUND ONE)

@m_katkoff asked some great q's. Love his doggedness to get some real answers.
Jon's exp = great blend of investing + operating.

- Started in IB/VC (4⃣yrs)
- Sr. PM @riotgames (3⃣yrs)
- BD/publisher @TencentGames (4⃣yrs)
- Investor/Operator at @a16z (3⃣yrs).

+ 2x Harvard degrees. His stats are p stacked tbh!

(not in pod but sleuthed LinkedIn)
A little backstory: a16z changed the VC game by introducing the "platform" model of providing tactical support like recruiting/HR/marketing/finance. This model was taken from CAA (talent agency).

a16z's platform team today is 300+ strong (like the Spartans) 🤯
GAMES FUND ONE will...
- Lean on this platform model (with new game-centric value-add like accessing twitch streamers, etc.)

- Focus on Seed/Series A (with follow on)

- Invest in Generational Companies (not games)
Thesis: Games are no longer single-player isolated exp, instead games are more like consumer tech products.

Themes
1⃣ App/Games Layer (Studios, Discord/Twitch)
2⃣ Infra Layer (Unity, Unreal)

*NOTE* Some co start one layer then vert. expand
(EPIC: games > engine > more games)
Why founders should partner with a16z...
- Investing team = True gamers/operators
(so they 'get it')

- Hands-on investor. Lead/Co-lead only

- First call in an emergency

- Massive platform support
(eg. Hiring CTO, Jon will scour LinkedIn to find candidates for you) 👑👏
At Tencent, Jon worked with the Game Evaluation Center (100 ppl. play every game but still 5%> hit rate)

So TEAM is the key. (but VC says that)

Except Jon actually goes into details.
2 Types: Freshmen vs. Seniors

1⃣ Freshmen = first time but innovative. Fast. Hustle. Velocity. Unbounded by industry preconceptions.

2⃣ Seniors = serial founders. Exp gaming veteran. Knows what success looks like
Freshmen Teams, can they...
- Storytelling/Fundraising

- Recruiting

- Growth/Coachability

- Scrappy/Resourceful

"Can they recruit a 'Sheryl Sandberg' caliber talent?"
Senior Teams, can they...
- Grow beyond last self
(ex. if prev console studio, can jump to mobile?)

- Keep up with Industry
(innovation/competitor landscape)

- Learned Scrappiness
(no more unlimited resources from parent co.)
Then the pod wraps on some Macro points and Blockchain Games.

- Games are counter-cyclical

- Game dev and dev talent is already hard in web2

- Bullish Web2 game talent -> Web3

- Blockchain should be the "invisible technology" (aka just another element in the tech stack)
Honestly, this was one of the best podcasts I've listened to lately.

Do yourself a favor and check it out:
open.spotify.com/episode/2JBlJvfbCsO320aMsRgvCO?si=80bc2385eae54fc8
Learn more about the fund here:
a16z.com/2022/05/18/games-fund-one-building-the-future-of-games/
Full podcast notes here:
www.notion.so/gamershideout/Deep-Dive-into-a16z-s-Game-Fund-One-Podcast-02f3282c0e7c42e0bb88962acce63...
Thanks for checking this out. Hope you guys liked it.

For positive feedback, feel free to comment. For negative feedback, send them to @cloudxgmf 😇

Follow @chng_raymond @wassiecapital @LeftsideEmiri @0xAikoDai for moar gud gud gaming content.
Mentions
See All