Fundraising FoxLudus Ventures
Venture capitalIstanbul · Pre-Seed–Seed · 8 people tracked
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Investment thesis
Ludus Ventures invests in gaming startups, backing founders from their earliest round with a first-check, day-zero mindset. As operators-turned-investors with deep expertise across game studios, platforms, and ad-tech, the firm emphasizes founder-friendly, hands-on support rather than micro-management, offering strategic partnerships and market data. It runs two active funds: a 2021 Luxembourg vehicle with a global mandate and a 2024 Turkish VCIF focused on gaming, game-tech, and emerging categories.
Source: firm website, verified Oct 2, 2026.
Team · 8 people
from the firm's website & public directories
What they invest in
from 12 of 26 portfolio companiesGaming ×11Consumer ×4AdTech ×3Marketing Tech ×3Developer Tools ×2SaaS ×2AI & Machine Learning ×1Creator Economy ×1
HQs:United States×3Türkiye×2Sweden×1
Investments · 26 tracked
founders shown can be your intro pathBy year:2023 · 12022 · 12021 · 12020 · 14 dated
Spektra Games is a mobile game developer and publisher that handles development and publishing in-house, focused on racing and simulation titles such as Parking Master Multiplayer 2 and Highway Racer Pro.
ConsumerGamingNew York, US
Kadir Danisman(Founder)inPrince Boakye Boampong(Executive Officer, Director)Roel Janssen(Director)
Co-investorsAPY VenturesThe Games Fund
Fortune Mine Games is an Istanbul-based studio that develops puzzle and social casual mobile games, running them on a shared internal platform with AI agents embedded in each game team.
AI & Machine LearningConsumerGamingIstanbul, TR
Co-investorsStartupFon
Hypemasters is a game development studio that builds free-to-play strategy games, including World War Armies (WWA), for global players across PC and mobile.
GamingDover, US
Boris Kalmykov(Co-founder & CEO)inEkaterina Bazhanova(Co-founder & Strategy Director)
Co-investorsThe Games FundGEM CapitalImpact46Ludus
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Jambox provides a competitive multiplayer package for game developers, letting players compete and earn rewards and prizes within games.
GamingSaaS
LootLocker provides backend infrastructure and tools for game developers to build cross-platform games and manage player engagement directly, independent of platform gatekeeping.
Developer ToolsGamingSaaSStockholm, SE
Co-investorsAcequia Capital (AceCap)GaingelsTechstarsBehold VenturesIA Ventures
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Pace develops mobile games featuring story-driven worlds, puzzle gameplay, and graphics optimized for smooth performance on the go.
ConsumerGaming
Co-investorsPlay Ventures
Mobile casual game studio (Türkiye)
Playable Factory designs and codes custom playable (interactive) ads for mobile app and game marketers, handling concepting, production, and iteration to improve engagement, IPM, and ROAS.
AdTechGamingMarketing Tech
Shapes XR is a platform for teams to design, prototype, and publish spatial experiences in 3D and mixed reality environments.
Creator EconomyDeveloper ToolsFuture of Work
Inga Petryaevskaya(Founder)in
Co-investorsFlyer One VenturesGeek VenturesHartmann CapitalLeta CapitalStratMindsSupernode Global+2 more
Stardust is an advertising platform for mobile app and game marketers, running automated user-acquisition campaigns on iOS and Android with support for MMPs such as AppsFlyer, Adjust, Tenjin, and Singular.
AdTechGamingMarketing Tech
Marcus F.(Founder)inCanaan Linder(Founder)
Co-investorsBackedBlockchain CapitalBlockchain CoinvestorsDelta BlockchainG1 VenturesKindred Capital+6 more
TaleMonster Games is a mobile game developer focused on casual games for a global player base.
ConsumerGamingIstanbul
Irem Sumer(Founder)inSimay Kahraman(Founder)inBerk Yasar(Founder)inEmre Yanik(Founder)Eren Saricicek(Founder)
Co-investorsGeneral CatalystPoint72 VenturesAndreessen Horowitz
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TARK is a game publisher that funds and supports independent game developers with end-to-end publishing services, including development funding, talent sourcing, marketing, and post-launch support.
GamingMedia & Entertainment
Monetizr operates an advertising and data platform that connects brands with mobile gamers through in-game rewarded experiences, using opt-in player data for targeting without relying on IDFA.
AdTechData & InfrastructureGamingMarketing TechSan Francisco, US
Andris Merkulovs(Founder and CEO)inMartins Bratuskins(Founder and COO)in
Co-investors1435 CapitalAlfabeatBerkeley Angel NetworkChange VenturesTechstars
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Alpaka GamesChaos GamesFlow GamesGleam GamesGoamaKidlyMadcore GamesMaestroMageMidasMoment GamesStageZero TechnologiesWindtribe
Portfolio news
latest coverage across their companiesHypemasters · gamesbeat.com · Dec 9, 2025
Frequently asked questions
- How many investments has Ludus Ventures made?
- Ludus Ventures has 26 tracked investments.
- What stage does Ludus Ventures invest at?
- Ludus Ventures invests at the Pre-Seed, Seed stages.
- What sectors does Ludus Ventures focus on?
- Ludus Ventures focuses on AdTech, AI & Machine Learning, Gaming.
- Where is Ludus Ventures located?
- Ludus Ventures is headquartered in Istanbul, TR.
- Does Ludus Ventures lead rounds?
- Yes, Ludus Ventures leads investment rounds.
- Who does Ludus Ventures co-invest with?
- Ludus Ventures most often shares deals with The Games Fund, General Catalyst, Kindred Capital, among 30 tracked co-investors.
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