Laton Ventures, a gaming and apps centered enterprise capital agency based by Görkem Türk, has closed its first fund with $50 million.
The Istanbul enterprise capital fund is the biggest gaming and apps-focused fund in Türkiye, which has change into one of many distinguished world hubs for the gaming trade, stated Türk in an announcement.
Laton Ventures will globally spend money on pre-seed and seed stage gaming startups, whereas additionally backing non-gaming app firms. Again in April, when introduced the fund, it had raised $35 million.
Distinguished by its discretionary hands-on operational help mannequin, has skilled vital development and traction in almost half of the businesses it invested in inside its first yr.
Throughout its first yr, Laton Ventures made 5 pre-seed and seed stage investments in gaming firms throughout Türkiye, the USA, and Europe. Two of those firms have achieved vital milestones, elevating sizable Sequence-A rounds.
Certainly one of them, Grand Video games who’s a Turkish cellular gaming firm, has achieved securing a $30 million Sequence-A funding spherical in a file 9 months after its inception. The second portfolio firm who additionally raised a Sequence-A spherical is undisclosed for now.
Laton Ventures ranked among the many world prime 10 most energetic pre-seed and seed stage gaming VC funds in its first yr. Laton’s portfolio features a numerous set of firms, from cutting-edge cellular gaming studios to progressive social gaming platforms.
The corporate has made 5 investments thus far. Three of these founders are in Türkiye or the businesses had been based by Turkish founders. Three individuals work full-time for the fund and two work part-time.
Laton Ventures is backed by over 40 exited gaming/tech founders and trade veterans spanning greater than 10 nations. Amongst them are founders or former executives of famend firms reminiscent of Peak, Gram, Loop, and Huuuge. The fund’s buyers additionally embrace high-profile firms reminiscent of Supercell, the creator of hit video games like Conflict of Clans, and Tibas Ventures, the enterprise capital arm of İş Bankası, Türkiye’s largest non-public financial institution. As well as, the fund is supported by institutional buyers and household workplaces from numerous elements of the world.
Founding associate Türk stated in an announcement, “We imagine in proficient groups with distinctive imaginative and prescient, creating progressive video games, apps, and next-generation leisure platforms. We’re passionate concerning the cellular platform and its future evolution, pushed by the tailwind of AI and integration of social parts.”
Türk stated, “We’re pleased with the achievements of our portfolio firms and the progress made in our first yr, which has been a testomony to the power of our centered funding technique. We really feel privileged and enthusiastic about supporting the most effective founders within the gaming and apps ecosystems throughout Türkiye and the globe.”
Previous to founding Laton, Türk was gaming and startups trade supervisor at Google, the place he led partnerships and development advisory with gaming/apps startups and ecosystem companions. Türk additionally has held numerous roles at firms reminiscent of P&G and Worth Companions Administration Consulting all through his profession.
Requested what the corporate would spend money on, Türk stated, “We’ll concentrate on the classes with very massive viewers base in cellular gaming. Equally, we are going to concentrate on non-gaming apps with use instances that attraction to very massive audiences.”
He stated Laton won’t be investing in Web3 and crypto-related enterprise fashions for this particular fund.
He stated, “We’ll maintain working with the most effective groups.”