Vgames

Vgames (stylized vgames) is an Israel-headquartered venture capital firm that invests in gaming, interactive entertainment and consumer companies globally. It was started in 2020 as a games-focused venture fund led by Eitan Reisel and Daniel Mironov and describes itself as a founder-first, multistage investor backing companies from inception through growth stages.

The firm operates several distinct vehicles: a main venture capital fund (a third fund of $142 million was announced in December 2024), a user-acquisition/growth financing platform, and a $10 million indie project-financing fund announced in June 2026. Reported assets under management were over $400 million as of the June 2026 indie fund announcement and approximately $500 million as of July 2026, with more than $500 million deployed to gaming and consumer companies through its investment activities.

Vgames has invested in nearly 50 to more than 50 companies, including SuperPlay, Innplay Labs, Candivore, 1047 Games, Starform, GOAT Studios, Pocket Haven, 44pixels, PeerPlay and the microdrama streaming platform GammaTime.

Founding story

Vgames was founded in 2020 by Eitan Reisel, who leads the firm as founder and managing partner alongside partner Daniel Mironov. Before founding the firm, Reisel was part of the founding team of Google Israel, where he helped build Google's commercial business, and in 2014 founded the Google Games team in Tel Aviv, working with game companies on user acquisition, monetization and growth.

Business model

Vgames manages pooled investment vehicles on behalf of limited partners, deploying equity capital into early-stage gaming and consumer companies and non-dilutive financing into growth-stage companies. The firm states it operates with the discipline of a professional financial institution focused on long-term value creation for its limited partners.

Returns are generated from equity stakes in portfolio companies and, under the newer vehicles, from revenue-linked repayments: growth financing is repaid based on revenue generated by the financed user cohorts rather than a fixed schedule, and the indie fund provides project financing in exchange for a share of a game's revenue.

Traction

Nearly 50 to more than 50 portfolio companies since 2020; more than $500 million deployed to gaming and consumer companies; approximately $500 million in assets under management as of July 2026 (over $400 million reported in June 2026). Portfolio outcomes include SuperPlay, which Playtika agreed to acquire for up to $1.95 billion in September 2024, and Innplay Labs, which Playtika agreed to acquire for up to $300 million in September 2023. Candivore raised a $100 million investment led by Haveli Investments in August 2023. The indie fund targets roughly 20 studios at an average of about $500,000 per project and had made one undisclosed investment in an Israeli PC game company at announcement.

Latest developments

In July 2026 Vgames announced a $500 million financing platform for gaming and consumer companies, raised with backing from Phoenix and operated in collaboration with General Catalyst, under which repayment is linked to revenue from the user cohorts financed. In June 2026 it announced a $10 million indie fund providing project financing to studios building premium PC and console games, aiming for around 20 investments averaging about $500,000 each.