Valhalla Ventures, an early-stage venture capital firm, has unveiled its inaugural flagship fund of $66 million aimed at investing in audacious innovators disrupting the fields of deeptech and gaming. The firm is dedicated to backing entrepreneurs who fearlessly challenge conventional wisdom and strive to push the boundaries of science and engineering.
Proudly considering itself a bold early-stage investor, Valhalla Ventures focuses on identifying and supporting technologies and ideas long before they become mainstream. The $66 million fund will primarily target seed-stage companies operating in the realms of deeptech, including materials science, biology, energy generation/storage, and space technology, as well as gaming, with an emphasis on novel and underfunded gaming mediums, particularly those offering unique social experiences.
Devan Malhotra, General Partner and leader of Valhalla’s gaming practice, expressed gratitude for the support from some of the world’s top founders, family offices, executives, and corporations. He envisions bringing venture capital back to its original purpose, as exemplified by the early investors in Silicon Valley, who worked hand-in-hand with audacious entrepreneurs to solve the world’s toughest problems. Deviating from the current trends in the VC industry, Valhalla Ventures seeks to concentrate its portfolio on non-traditional areas, such as gaming and deeptech, and collaboratively work with engineers, creatives, and scientists to shape a brighter future.
Since early 2022, Valhalla’s Fund I has been actively deploying capital, securing 15 core positions to date, with plans to continue making new investments until early 2025. Among its deeptech investments, Terran Biosciences and Avery Digital are redefining biotechnology, while Irradiant Technologies is revolutionizing nanofabrication. In the gaming realm, Incredible Dream is using board games to create a billion-dollar IP franchise, while 1v1Me is building a platform for gamers to compete and bet on their favorite streamers.
Rohan Pujara, General Partner and leader of Valhalla’s deeptech investments, highlighted the firm’s focus on backing relentless entrepreneurs tackling significant problems with unconventional solutions rooted in science and engineering. He emphasized that the most pressing issues of our time demand breakthroughs in physical technology, rather than incremental improvements in software. Valhalla Ventures seeks to support businesses built around critical technology with captive markets, relying on top-notch engineering, execution, and scalability.
Valhalla Ventures is particularly intrigued by the booming ecosystem of deeptech companies affiliated with SpaceX. The innovative approach of SpaceX’s engineers, characterized by questioning assumptions, streamlining processes, rapid execution, and automation, has inspired the firm to invest in companies like K2 Space and Starpath Robotics, both founded by ex-SpaceX engineers and working on revolutionary space-related projects.
Selcuk Atli, founder of Bunch, a mobile digital world for gamers, commended Valhalla Ventures as an insightful and valuable partner, offering strategic connections and deep market understanding.
Founded in 2020 by Devan Malhotra, Matthew King, and Rohan Pujara, Valhalla Ventures previously invested $27 million via Special Purpose Vehicles (SPVs) in eight companies focused on deeptech, gaming, and blockchain.