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Behold Ventures is a venture capital fund established in 2021, dedicated exclusively to the video game industry. Founded by a team of seasoned professionals with extensive backgrounds in game development, publishing, and investment, the firm is headquartered in Sweden. The fund has successfully closed its first fund at $58.2 million (SEK 550 million), oversubscribed from an initial target of $25.9 million. This significant capital allows Behold Ventures to focus on early-stage investments in the gaming sector.
The firm currently manages a portfolio of 18 companies, primarily located in the Nordics and Europe. Notable milestones include securing backing from major gaming companies such as Krafton and NetEase, as well as the European Investment Fund (EIF), which made its first-ever gaming investment in Behold Ventures. This backing underscores the fund's reputation as one of the largest gaming-focused VC funds in Sweden.
Behold Ventures concentrates on early-stage investments in the video game sector, specifically targeting pre-seed, seed, and seed-plus stages. The fund seeks to partner with creative and ambitious entrepreneurs who are dedicated to developing innovative entertainment experiences. Their geographical focus includes the Nordics and the broader European market, allowing them to tap into a diverse range of gaming startups.
The firm is agnostic to business models or platforms, investing in game developers as well as tools, technology, and infrastructure related to the gaming industry. Behold Ventures emphasizes the importance of strong teams behind these innovative projects, leveraging the founders' deep industry experience to navigate challenges and seize opportunities in the gaming landscape.
Behold Ventures has built a diverse portfolio of 18 companies within the gaming sector. Notable portfolio companies include:
This portfolio reflects Behold Ventures' commitment to supporting a wide range of innovative gaming startups, from game studios to technology providers.
Karl Magnus Troedsson: Founder & Managing Partner. Troedsson has a rich background in the gaming industry, having held leadership roles in game development and publishing. His expertise includes strategic investment and market analysis.
Sigurlína Ingvarsdóttir: Founding Partner. Ingvarsdóttir brings extensive experience in game development and investment, focusing on supporting innovative gaming startups.
Magnus Kenneby: Founding Partner. Kenneby has a strong background in the gaming sector, with a focus on identifying and nurturing promising gaming ventures.
Brynjólfur Erlingsson: Principal. Erlingsson specializes in investment analysis and portfolio management, contributing to the firm's strategic decision-making processes.
Ali Farha: Investment Associate. Farha supports the investment team in sourcing and evaluating potential portfolio companies, leveraging his knowledge of the gaming industry.
To pitch Behold Ventures, founders should use the online submission portal available at [behold.vc/pitchbehold](https://behold.vc/pitchbehold). The pitch deck should include a clear overview of the business model, the team’s background, and the unique aspects of the game being developed. Founders can expect a response within a few weeks, depending on the volume of submissions. Warm introductions are preferred but not mandatory.
In 2023, Behold Ventures closed its first fund at $58.2 million (SEK 550 million), significantly oversubscribed from an initial target of $25.9 million. This fund has enabled the firm to invest $21 million across 18 companies to date. Recently, Behold Ventures participated in a $7 million investment round for Blue Scarab Entertainment, a game studio focused on developing an MMO RPG.
The firm has also made three investments in the UK, with the majority of its portfolio companies based in the Nordics. The backing from major gaming companies like Krafton and NetEase, along with the EIF's investment, highlights Behold Ventures' growing influence in the European gaming sector.
What are Behold Ventures' investment criteria?
Behold Ventures invests in early-stage video game startups, particularly those led by creative and ambitious entrepreneurs. The firm focuses on pre-seed, seed, and seed-plus stages, emphasizing strong teams and innovative entertainment experiences.
How can I apply or pitch to Behold Ventures?
Interested parties can submit their pitch through the online portal at [behold.vc/pitchbehold](https://behold.vc/pitchbehold). This platform allows founders to present their ideas and business models directly to the investment team.
What makes Behold Ventures different from other VC firms?
Behold Ventures specializes exclusively in the video game sector, leveraging the extensive experience of its founders in game development and publishing. This deep industry knowledge enables the firm to provide valuable insights and connections to its portfolio companies.
What is the geographic scope of Behold Ventures' investments?
The firm primarily focuses on the Nordics and the rest of Europe, allowing it to tap into a diverse range of gaming startups and market opportunities.
What is the typical check size for investments?
While specific check sizes are not disclosed, Behold Ventures has raised a total of $58.2 million for its first fund, indicating a capacity for significant early-stage investments.
What kind of post-investment involvement can founders expect?
Behold Ventures provides strategic guidance, industry connections, and insights into market trends, helping portfolio companies navigate challenges and seize opportunities in the gaming landscape.
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