Valhalla Ventures – an early-stage venture capital firm – recently announced its debut $66 million flagship fund to invest in audacious innovators challenging the status quo across deeptech and gaming. And the firm is committed to supporting entrepreneurs who are unafraid to question consensus views and push the boundaries of science and engineering.
The firm prides itself on being a daring early-stage investor, focusing on technologies and ideas years before they enter the mainstream. And Valhalla’s inaugural $66 million fund will primarily focus on investments in seed-stage companies across deeptech (areas of interest include materials science, biology, energy generation/storage, and space technology) and gaming (targeting novel and underfunded gaming mediums with an emphasis on social experiences).
Valhalla’s Fund I has been actively deploying since early 2022 taking 15 core positions to date and will continue to make new investments until early 2025. And on the deeptech side, Terran Biosciences and Avery Digital are each in their own way redefining what it means to be a biotechnology company, while Irradiant Technologies is revolutionizing the field of nanofabrication. In the realm of gaming, Incredible Dream is using board games to build the next billion-dollar IP franchise, while 1v1Me is building a platform for gamers to compete and bet on their favorite streamers.
Valhalla Ventures was founded in 2020 by Devan Malhotra, Matthew King, and Rohan Pujara. Before raising Fund I, Valhalla invested $27M via SPVs in eight companies across deeptech, gaming, and blockchain.
KEY QUOTES:
“Capital is scarce right now, especially for first time funds like us, so we’re honored to be backed by some of the world’s best founders, family offices, executives, and corporations. We want to bring venture back to its original promise, when Georges Doriot and the early investors in Silicon Valley worked hand-in-hand with the world’s boldest and zaniest entrepreneurs to solve the world’s hardest problems. The VC industry has lost its way. Too many funds spray and pray into ‘tier 1’ led deals while spending more time tweeting and fundraising than working with portfolio companies. We want to tack left, building a concentrated portfolio across non-traditional areas – gaming and deeptech – and working boots on the ground with the engineers, creatives, and scientists that are building a brighter future.”
— Devan Malhotra, general partner, who leads Valhalla’s gaming practice
“At Valhalla Ventures, we back relentless entrepreneurs tackling obvious problems with non-obvious solutions that challenge the bounds of science and engineering. If you look at the biggest problems we face today, they are not solved by incrementally better software, but rather by breakthroughs in physical technology. We’re looking for businesses built around critical technology with captive markets, hinging on best-in-class engineering, execution, and scale-up.”
“SpaceX has created a new generation of engineers that approach problems in a very unique way, with emphasis on questioning assumptions, simplifying processes, rapid execution, and automation. SpaceX is constantly working on things that have never been done before, and this has made it a breeding ground for technical entrepreneurs that want to solve impossible problems.”
— Rohan Pujara, general partner, who leads Valhalla’s deeptech investments. And Pujara recently led Valhalla’s investments in two companies founded by ex-SpaceX engineers, K2 Space – which is building high-powered satellite platforms for the next generation of space development, and Starpath Robotics, which aims to refuel vehicles like SpaceX’s Starship on the lunar surface.
“Bunch welcomed Valhalla Ventures to our team during our latest round. They quickly became one of our most insightful and helpful partners, making valuable connections to strategic partners and key players in the media and entertainment industry. They carry a strong conviction and demonstrate a deep understanding of our market. Any founder would be lucky to have them in their corner.”
— Selcuk Atli, founder of Bunch, which is building a mobile digital world where gamers talk, share, and play together
