Play Ventures

Play Ventures is the leading early-stage gaming venture capital firm, founded in 2018 by former gaming entrepreneurs Henric Suuronen and Harri Manninen. The firm operates from headquarters in Singapore, with a second office in Helsinki, Finland, and invests globally. Play's thesis is grounded in a straightforward observation: gaming is the largest form of entertainment at over $200 billion annually — more than twice the combined value of music and film — and gaming mechanics are increasingly powering a new generation of consumer applications beyond traditional games. The firm leads rounds across pre-seed, seed, and Series A in mobile free-to-play games, mobile consumer apps, gaming infrastructure, AI-enhanced tools, and gaming-adjacent SaaS. Play Ventures has raised three funds: Fund I at $30 million (2018), Fund II at $135 million (2021), and Fund III at $140 million (2024) — its largest to date, bringing total AUM to approximately $450 million. As of late 2025, the firm has made 126 investments, delivering 1 unicorn, 1 IPO, and 12 acquisitions. Notable portfolio wins include MPL (Indian gaming unicorn), Huuuge Games, Futureplay Games, Eloelo (live social entertainment with over 90 million users and 150,000 creators), and Reworks (acquired by Playtika for $400 million plus a $200 million earn-out). Recent investments include Cypher Games ($30 million Series A co-led with The Raine Group) and Ray Browser ($6.5 million). Play Ventures takes an active role in each portfolio company, leveraging the founders' own operational backgrounds in gaming to provide substantive guidance on game design, monetization, and distribution strategy. The firm's global footprint across Singapore, Helsinki, and active deal-making in India and the United States gives portfolio companies direct access to the markets and talent pools where gaming growth is concentrated.