London-based specialist gaming and metaverse VC, Hiro Capital focuses on video games, metaverse technologies, creator platforms and gamified fitness.
Launches €300M fund
Now, Hiro Capital has announced the launch of HIRO CAPITAL II, a €300 million ($340 million) fund. This fund focuses on backing the world’s emerging Gaming and Metaverse innovators. Hiro II will announce its first investments in April.
Hiro Capital will use the new fund to invest in entrepreneurial teams at Seed, Series A and Series B rounds across the UK, Europe and North America. It will help build innovative and disruptive leaders in Games, Esports, Creator Platforms and Gamified Fitness.
With Hiro Capital 1, Hiro Capital II and Hiro MA1, the company has raised a total of $650 million. Now, the fund entirely focused on Games and Metaverse innovators in the UK, Europe and beyond.
“In 2022, we are at a pivotal moment in the very early phases of the Metaverse, VR, AR and Web3 — these revolutions will take at least a decade and much of the creativity and technology innovation will start in Games. As a team, we have the experience and networks to support the incredible talent that we find across Europe, the UK and beyond. Our new fund gives us more firepower to find and develop emerging stars and level them up to global scale.” said Luke Alvarez, co-founder at Hiro Capital.
Invests in metaverse and games
The company was founded in 2018 by Luke Alvarez, Cherry Freeman and Sir Ian Livingstone. The three founding partners have co-founded startups generating billions of value in exits, completed five public IPOs and scaled six games companies over $500 million.
It is not only Games and Metaverse investor but also a Games and Metaverse entrepreneur. The company claims that entrepreneurs invest in entrepreneurs. It believes that Videogames, Metaverse Technologies, Creator Platforms and Gamified Fitness will be a central pillar of Entertainment, Economic and Social Life by the middle of this year.
Hiro Capital’s name was inspired by Hiro Protagonist, the sword-wielding, Metaverse-hacking samurai hero of Neil Stephenson’s seminal Snowcrash. The novel is all about video games, VR, digital assets and the neocortex. Since its debut, Hiro has been investing in sci-fi, story-telling IPs and the deep future of games and metaverse technology. Hiro believes strongly in Games as a force for good.
On January 1, 2022, Ian Livingstone CBE was honoured Sir Ian Livingstone CBE by HM Queen Elizabeth II for his services to the videogames industry.
Hiro Fund I achievements
Between 2019 and 2022, Hiro has made 21 Series A and B investments in the Games and Metaverse industries across the UK, EU and USA.
The Hiro Fund 1 portfolio is now 80% invested and is performing strongly across fast-growing investments. including Polyarc (Seattle), FitXR (London), FRVR (Lisbon), Keen Games (Frankfurt), Snowprint (Stockholm), LOCO (India) and LIV (Prague).
Also, Hiro Capital co-led a $22 million investor consortium alongside Blackrock and Westerly Winds. This is part of a Series C round in London-based gamified femtech star Elvie. Some of the investors in Hiro included some of the world’s largest games and technology companies.
Hiro Metaverse acquisitions
In January this year, Hiro Capital 1 became the lead sponsor in a new acquisition vehicle focused on the Video Gaming and Metaverse sectors. Hiro Metaverse acquisitions began trading on the LSE on Feb 7th, the second ever SPAC to list in London.
Also, Hiro MA1 raised a total of £115 million ($150 million) to target Games and Metaverse acquisitions in the $600 millionth-$2.25 billion.