By Nicholas Lovell on February 10, 2021
Last week, we announced that I had joined Hiro Capital as a Venture Specialist.
Hiro is one of a new breed of games investor targeting the “post-Seed gap”, helping companies in the games and related technology/wearables sectors with Series A and Series B funding. As Ian Livingstone, one of the co-founders of the fund put it in an interview with Gamesindustry.biz, “people can get seed funding to get off the ground, but there’s none of that follow-on fund.” Co-founder and managing partner, Luke Alvarez says, “there’s a clear lack of post-seed capital, particularly in Europe. There are lots of entrepreneurs who have made good money and will invest as angels, but very little capital available once a business needs investment of between €1 million and €15 million.” That’s the gap that Hiro seeks to fill.
The co-founding group of the fund is rounded out by Cherry Freeman, who co-founded Lovecrafts and, like the other founders, has had a variety of operational and strategic roles in venture-backed and public companies.
I’m joining to help in many areas but my initial focus will be on supporting portfolio companies to make better games or experiences, particularly where their products have a big service component, whether that be free-to-play, subscriptions, or other ways of building enduring relationships with long term customers and players. I will be continuing in my role as Game Director at Electric Square on an unannounced title, while working hard to help improve the funding ecosystem for the games sector.
It’s going to be fun.