Sisu Game Ventures

Sisu Game Ventures is a Helsinki-based early-stage venture capital fund founded in 2014 and focused exclusively on gaming companies. Headquartered in the heart of Helsinki, Sisu backs the next generation of game-studio founders with pre-seed and seed capital, preferring to be first money in — typically pre-revenue and most often pre-product — and then supporting founders with deep operational expertise. The firm explicitly structures itself as an evergreen investment company rather than a traditional LP-driven fund, which eliminates forced exit pressure and allows founders to build on their own timeline. Sisu is led by partners Samuli Syvahyoko (co-founder of Remedy Entertainment and serial games operator behind Fathammer, Recoil Games, Helsinki GameWorks, and Armada Interactive), Moaffak Ahmed, Paul Bragiel (also of i/o ventures and Golden Gate Ventures), and Kalle Kaivola, with Erik joining as General Partner in 2020. Collectively the team has built 16 game companies and invested in more than 60 game startups over three decades. Between the $1.1 million first vehicle in 2015 and the $50 million Sisu Ventures III announced in June 2021, total capital raised is approximately $51.1 million. The portfolio holds 117 disclosed investments including Umbra, Nextmind, Network Next, Cosmic Lounge, Coherence, and Resolution Games. The most recent new investment was Anti-Hero Studios in March 2026, following Seven Stars in February 2025. Sisu's thesis is deliberately narrow: gaming only, first check, evergreen capital. That focus means the firm brings domain expertise and operator networks that generalist VCs cannot match when evaluating game studios at the idea stage.