Key Takeaways
- • Hiro Capital, a London and Luxembourg venture capital firm, has launched HIRO CAPITAL II, a €300m ($340m) fund targeting early-stage videogames, metaverse, creator platform and gamified fitness companies, according to a Business Wire release dated February 28, 2022.
- • The fund invests at Seed, Series A and Series B stages across the UK, Europe and North America, with selective exposure to the rest of the world.
- • Founding partners Luke Alvarez, Cherry Freeman and Sir Ian Livingstone are raising their second fund in three years, following Hiro Capital 1, which launched in 2019 at €115m ($130m).
- • Hiro Capital 1 has made 21 investments over roughly two and a half years, and has just announced its 20th, as lead sponsor of Europe's first Games and Metaverse SPAC.
- • Hiro II expects to announce its first investments in April 2022.
Summary
Hiro Capital has announced the launch of HIRO CAPITAL II, a €300m ($340m) venture capital fund focused on backing emerging gaming and metaverse innovators, according to a Business Wire release from London. The firm describes itself as a leading specialist European VC focused on videogames, metaverse technologies, creator platforms and gamified fitness. Hiro II will make its first investments in April.
The new fund will invest in entrepreneurial teams at Seed, Series A and Series B across the UK, Europe and North America, and selectively in the rest of the world. Target sectors include games, esports, creator platforms and gamified fitness. Founding General Partner Luke Alvarez said that Games and Metaverse technologies "will be at the heart of the next generation of human communities," and that the firm backs early-stage innovators building these digital futures. Founding partners include Cherry Freeman and Sir Ian Livingstone.
The launch follows Hiro Capital 1, which closed in 2019 at €115m ($130m). According to the release, that fund has made 21 investments over about two and a half years, including leading investments in games studios Polyarc, Keen, Snowprint, Flavourworks and Happy Volcano, and in gamified fitness and creator platform companies such as FitXR, Zwift, FRVR, Frameplay, LIV and Loco. Hiro 1 has also just announced its 20th investment, as lead sponsor of Europe's first Games and Metaverse SPAC, Hiro Metaverse Acquisitions 1, which raised £115m ($155m) from institutional investors at its February 2 London IPO.
Founded in 2018, the firm is named after Hiro Protagonist, the hero of Neal Stephenson's novel Snow Crash. Hiro is headquartered across London and Luxembourg and invests in both content creators and deep-tech metaverse and Web 3.0 applications.
The new fund will invest in entrepreneurial teams at Seed, Series A and Series B across the UK, Europe and North America, and selectively in the rest of the world. Target sectors include games, esports, creator platforms and gamified fitness. Founding General Partner Luke Alvarez said that Games and Metaverse technologies "will be at the heart of the next generation of human communities," and that the firm backs early-stage innovators building these digital futures. Founding partners include Cherry Freeman and Sir Ian Livingstone.
The launch follows Hiro Capital 1, which closed in 2019 at €115m ($130m). According to the release, that fund has made 21 investments over about two and a half years, including leading investments in games studios Polyarc, Keen, Snowprint, Flavourworks and Happy Volcano, and in gamified fitness and creator platform companies such as FitXR, Zwift, FRVR, Frameplay, LIV and Loco. Hiro 1 has also just announced its 20th investment, as lead sponsor of Europe's first Games and Metaverse SPAC, Hiro Metaverse Acquisitions 1, which raised £115m ($155m) from institutional investors at its February 2 London IPO.
Founded in 2018, the firm is named after Hiro Protagonist, the hero of Neal Stephenson's novel Snow Crash. Hiro is headquartered across London and Luxembourg and invests in both content creators and deep-tech metaverse and Web 3.0 applications.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.