Sweden’s largest game-focused VC fund will be an early backer for the next generation of game entrepreneurs
Stockholm-based See Ventures has raised $25.9 million to support startups enriching the gaming industry with their innovative ideas. The fund has already committed around €25 million and aims to double that. The company has 12 companies in its portfolio and supporters from the Nordic gaming sector.
Behold Ventures is an active fund founded in 2021 by gaming veterans Karl Magnus Troedsson, Sigurlina Ingvarsdottir and Magnus Kenneby. The aim is to make use of the founders’ respective skills to identify, and at an early stage invest in, start-ups active in the gaming industry. Through the founders’ experience and a uniquely composed network of game developers and experts, the portfolio companies gain access to a knowledge bank that provides optimal conditions for profitable growth and future returns.
Gambling and investor veterans establish Sweden’s largest gambling-focused venture capital fund
Se Ventures is a new venture fund that focuses entirely on investments in start-up gaming companies, primarily in the fast-growing Nordic industrial cluster
Sweden’s largest game-focused VC fund, Behold Ventures, was launched by the company’s veteran founding group. The fund, with €25 million invested so far, was founded by three well-known profiles from the video game and investment industry – Karl Magnus Troedsson (Raw Fury, EA/DICE), Sigurlina Ingvarsdottir (CCP, EA/DICE) and Magnus Kenneby (Sequent) and is backed by of investors, advisors and other contributors spanning the industry’s most well-known and trusted names.
Behold Ventures was founded solely to target early-stage investments in video game startups, primarily in the Nordic markets. The strategy is to use the founders’ extensive experience and network from the gaming industry to successfully find and invest in start-ups, help create and accelerate value creation and provide significant long-term returns not only for its investors, but for its growing pool of portfolio companies.
Unique knowledge bank
In addition to the founders’ own expertise, the fund has a wide network of hand-picked experts and advisors from the Nordic gaming sector, which forms the basis of a uniquely composed experience bank. The intention is to let the portfolio companies have access to specialists in all areas of the industry, e.g. production, marketing and business development. Optimal conditions are created for the newly started founders to be able to build game studios and launch games with great potential on the global market. A game development veteran who is part of the expert network, and actively helps the fund’s portfolio companies, is for example Martin Walfisz, the founder of Massive Entertainment.
Karl Magnus Troedsson, founder and partner of Behold Ventures, comments:
“The uniquely successful Nordic games industry is more relevant than ever in a global market, and it is clear that a steadily growing global audience considers video games to be the most rewarding form of entertainment. We believe there is great value to be found in the sector if it is made by investors who really understand the gaming industry and can help entrepreneurs build highly successful and lasting businesses.”
Behold’s three founders have come together because we share this belief, know that together we can act as catalysts and thereby achieve fantastic results. We have successfully worked in the video game industry throughout our careers and know what it takes to create games that become global successes. We also have a world-class network of highly experienced and dedicated experts who are deeply rooted in the Nordic gaming ecosystem and beyond. In addition, we have a large group of strategic investors who have contributed to the fund and will be long-term assets to our companies. Together with all our partners, it gives our portfolio companies a unique opportunity to grow successfully.”
Behold Venture’s first fund has already committed capital of approximately EUR 25 million, which comes almost exclusively from gaming veterans and leading global gaming companies. The goal is to close the fund to double its size, while also opening the fund to more traditional investors. So far, Behold has twelve companies in the portfolio and will continue to invest at a high rate in the coming years.