Led by NetEase, Theorycraft Games Raises $37.5M in Series A Round

Theorycraft Games, a new game development company founded by Riot Games, Bungie, Blizzard, and Valve Software veterans, announced that it has raised $37.5M in a Series A funding round led by NetEase, Inc. Additional investors include NEA, BITKRAFT Ventures, Griffin Gaming Partners, SISU Game Ventures, and “a small group of strategic angel investors.” Theorycraft will use the new capital in a recruitment push to fill out a team working on “a community-driven, PvP game available across multiple platforms.”

The company is based out of Seattle and Los Angeles with a mission to “create deep games that give everyone the chance to connect, to compete, and to be infinitely delighted by stories that place players directly in the center.” Theorycraft looks to develop games spanning all platforms so as to not leave any players out of being able to play. Part of what Theorycraft is doing is to create games that are accessible to players no matter where they live or “how much money they can spend.”

The founding team at Theorycraft has worked on some of the most recognizable games in the scene including League of LegendsHaloDestinyOverwatchValiant, and Team Fortress 2. In fact, Joe Tung, the CEO, and Founder of Theorycraft Games has seen genre-defining, billion-dollar franchises thrive as the former EVP of League of Legends franchise and EP of Destiny and Halo.

Other members include Michael Evans, the former Tech Lead for ValorantOverwatch, and Halo; Mike Tipul, former Creative Director at Bungie; Moby Francke former Art Director on ValorantLeague of LegendsDota 2, and Team Fortress 2; and Areeb Pirani, the former Global Revenue and Finance Lead for League of Legends.

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