NEA Joins $50 Million Financing for Theorycraft Games

Theorycraft Games, a Los Angeles, CA-based independent game studio, raised $50M in funding.

The round was led by Makers Fund with participation from NEA and a16z.

The company intends to use the funds to continue building out the team.

Led by CEO Joe Tung, Founded in December 2020 by Joe Tung, Mike Tipul, Michael Evans, Areeb Pirani, and Moby Francke – former studio leaders at Riot Games, Bungie, Blizzard, and Valve Software Theorycraft Games is an independent game studio making deep, 10,000-hour games. Its first game, Loki, is a competitive, team-based game of adventure, creativity, and high-stakes combat.

Theorycraft Games is a fully remote studio, with roots in Los Angeles, Irvine and Seattle.