Valve Veterans Blizzard, Bungie and Riot Raise $ 37.5 Million to Launch New Studio

Industry veterans from Blizzard, Bungie, Riot Games, and Valve have raised $ 37.5 million to launch a new studio called Theorycraft Games.

NetEase led the funding round at the nascent studio, and they were joined by NEA, Bitkraft Ventures, Griffin Gaming Partners, and SISU Game Ventures.

Based in Seattle and Los Angeles, Theorycraft will use the cash to expand its development team with “diverse and driven” talent as it works to create a community-driven PvP title for multiple platforms.

The Theorycraft team has an impressive resume, having previously worked in high-profile franchises including League of Legends, Halo, Destination, Supervision, Valorant, Y Team Fortress 2.

Joe Chung, who served as executive vice president of the League of Legends franchise at Riot, will lead the studio as CEO. They will be joined by the ancients Valorant, Supervision, Y aura technology leader Michael Evans, who has been appointed chief technology officer; and former Bungie creative director Mike Tipul, who will take over as creative director.

“Theorycraft Games is on a mission to create deep games that give everyone the opportunity to connect, compete and be endlessly delighted with stories that put players squarely in the center,” a press release reads. “Theorycraft plans to meet players where they are, regardless of what platform they play on, where they live or how much money they can spend.”


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