Investor Profile: Makers Fund — Thesis, Cheque Size & How to Apply

Makers Fund is a global venture capital firm built around interactive entertainment. Founded in 2016, it has grown into one of the largest dedicated gaming investors in the world — with more than 90 portfolio companies, teams across London, Reykjavik, Tokyo, Singapore, New York and Los Angeles, and total assets under management of $1.5 billion after closing Fund IV at $250 million in August 2026.

Investment thesis

Makers was founded on the belief that "creators are the constant" — that great game-makers will keep producing hits even as platforms, genres and monetisation models shift. The firm makes high-conviction bets and positions itself as a long-term partner rather than a fair-weather backer, a stance it emphasises after staying the course in gaming while other investors pulled back through the cycle. While games remain the core, Fund IV extends the remit into consumer apps, entertainment and creation platforms, carrying lessons from game design and go-to-market into adjacent categories.

Sectors and stage

Makers invests in games, interactive entertainment, consumer apps and creation tools, globally and across stages. Fund sizes tell the story of its growth: Fund I of $180 million has distributed 3.6x invested capital — a performance the firm says places it in the top 1% of venture funds globally — followed by a $260 million second fund in 2020, a $500 million third fund in 2022, and now Fund IV at $250 million. Founding partner Jay Chi told TechCrunch the firm writes cheques ranging from $500,000 to $40 million, with a median of $5–10 million, and deploys a flexible toolkit including equity, project financing and marketing financing.

Notable portfolio

Makers' signature investment is Dream Games, where it was the first investor and ultimately the largest shareholder, backing the company through every round to its reported $5 billion acquisition by CVC. The portfolio also includes Voldex, a major publisher on Roblox; FaceIt, which went through a billion-dollar exit; tinyBuild; Parsec, acquired by Unity; VRChat; PixAI; Medal.tv; and General Intuition. The India connection is direct: Makers led WinZO's $18 million Series B, and in 2026 it led the $4.5 million pre-seed round of Cheer Games, with Play Ventures participating.

Partners

The firm is led by founding partner Jay Chi and co-founder and general partner Michael Cheung, joined by general partner Andrew Willson and co-founder Zhi Liang. Cheung, previously a senior director at Tencent and a McKinsey engagement manager, sits on the boards of companies including Dream Games and WinZO.

How to apply for funding from Makers Fund

Founders can reach the team through the contact details on the firm's official website, makersfund.com. The firm says it looks for clear, innovative visions aligned with its interactive-entertainment focus — creators building products where entertainment is central to the experience — and it values warm introductions through its deep network of founders and industry advisors.