Veterans from big studios namely Riot Games, Valve, Bungie, and Blizzard have launched a new studio called Theorycraft Games, after raising $37.5 million to start up the studio.
The new studio secured the money in a Series A funding round let by NetEase, In., and including investments from NEW, BITKRAFT Ventures, Griffing Gaming Partners, SISU Game Ventures, and a small group of strategic angel investors.
Theorycraft Games is founded by veterans from big game studios, bringing their massive experience from gaming’s most successful franchises that include League of Legends, Halo, Destiny, Overwatch, Valorant, and Team Fortress. The CEO and found of the studio, Joe Tung was the EVP of League of Legends franchise and EP of Destiny and Halo.
Joe Tung also had this to say,
We feel pretty damn fortunate—not only to have gotten off to such a great start to the studio—but to have found a group of such like-minded partners who believe like we do that games serve fundamental human needs; who support our goal of getting the game in players’ hands quickly and developing the game with them; and most importantly, who understand that we are in this for the long-term. NetEase and our co-investors are the ideal group of partners to help us bring the company’s vision to life.
Alongside Tung, the Theorycraft Games has an incredibly talented founding team that includes former tech lead for Valorant, Overwatch and Halo, Michael Evans, as chief technology officer; former creative director at Bungie, Mike Tipul, as chief creative officer; former art director on Valorant, League of Legends, Dota 2, and Team Fortress 2, Moby Francke, as art director, and former global revenue and finance lead for League of Legends franchise, Areeb Pirani, as chief operating officer.
The studio is based out of Seattle and Los Angeles, where its mission is to create deep games that give players a chance to connect, to complete, and to infinitely delighted by stories that place them directly in the center. The aim of the studio meet players right where they are, regardless of what platform they play on, where they live, or how much money they can spend.
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