/Investor DB

Sisu Game Ventures

Venture capitalOperating company

Oslo · Pre-Seed–Seed · 7 people tracked

Also known as SISU MANAGEMENT LLC

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Investment thesis

Sisu Game Ventures focuses 100% on games, positioning itself as a team of veteran game developers who invest very early — preferably as the first money in, at pre-revenue and often pre-product stages. Rooted in the Nordic region but investing globally, the firm emphasizes the open, collaborative culture of the Nordic game industry, extending that ethos to its portfolio companies and co-investors to accelerate their growth against global competition. The team draws on decades of experience having built game companies and invested in dozens of game startups, with its own backers coming largely from the game industry.

Source: firm website, verified Sep 29, 2026.

Stage
Pre-Seed–Seed
HQ
Oslo, NO
Leads rounds
Leads
Instruments
Equity
Founded
2014
Last 12 months
2 investments
Private fund assets
$56.2M
VC funds
2
Tracked investments
70
Acquisitions
1

Team · 7 people

from the firm's website & public directories

Founder mafia

5 people who came through Sisu Game Ventures went on to found or lead other companies.

What they invest in

from 48 of 70 portfolio companies

Gaming ×44AI & Machine Learning ×10Consumer ×10Media & Entertainment ×7Developer Tools ×4SaaS ×4Creator Economy ×3Data & Infrastructure ×3

HQs:Finland×10United States×5Sweden×4Canada×1Germany×1France×1

Who they back

founder profiles across 27 portfolio companies
26%
solo founders
7 of 27 mapped founding teams
33%
repeat founders
of 42 founders with career history
~1.5 yrs
old at investment
median across 10 dated deals

Founding team size:solo founder×72 founders×73 founders×44+ founders×9

Where their founders studiedfrom 33 founders with education data

University of Helsinki ×4Aalto University ×2Tampere University of Applied Sciences ×2Universitat Pompeu Fabra ×2University of Jyväskylä ×2University of Lisbon ×2

What their founders studiedfrom 30 founders with field-of-study data

Computer Science ×11Business & Management ×7Design & Architecture ×4Engineering ×3Economics ×2Social Sciences ×2

Where their founders worked beforefrom 42 founders with career history

Riot Games ×4Electronic Arts ×3King ×3Microsoft ×3Rovio Entertainment Ltd. ×3Bugbear Entertainment Ltd ×2DICE (EA Digital Illusions CE AB) ×2Fake Graphics ×2

2 founders hold a PhD · 3 hold an MBA (of 33 with degree data)

Investments · 70 tracked

founders shown can be your intro path

By year:2026 · 12025 · 32024 · 12023 · 22022 · 42021 · 52019 · 12018 · 12017 · 12015 · 120 dated

1939 Games1939games.comin𝕏Sep 2021 · $5.3M

1939 Games develops a digital collectible card game set in a WWII military theme.

Gaming

Gudmundur KristjanssonIvar Kristjanssonin

Co-investorsCrit VenturesCrowberry CapitalKorea Investment PartnersSeoul Investment Partners

Antihero Studiosantiherostudios.comin𝕏Mar 2026 · $4.5M

Antihero Studios is a game studio building multiplayer mobile games focused on social play with friends.

ConsumerGaming

Co-investorsA16Z SpeedrunLaton Ventures

Bitmagicbitmagic.gamesMar 2024 · $4M

Bit Magic is a browser-based platform where users create playable games from text descriptions without coding or a game engine, and publish them instantly to a built-in audience.

AI & Machine LearningCreator EconomyGaming

Jani Penttinen(Founder)in

Co-investorsKorea Investment PartnersSupercell

Chamo Gameschamogames.com

Chamogames develops physics-based, non-violent first-person shooter games designed to prioritize player wellbeing and skill-based gameplay over aggressive content.

GamingWellness & Fitness

Owen Dawson(Founder)

Co-investorsGriffin Gaming PartnersLakestar

coherencecoherence.ioin𝕏

coherence builds a Unity plugin and platform that lets game studios of any size add multiplayer and networked features to their games, with planned support for engines such as Unreal and Godot.

Cloud ComputingDeveloper ToolsGamingSaaS

Dino Patti(Founder & CEO)in

Co-investorsBLN CapitalSilicon GardensTomorrow Today ASAppOnboardGriffin Gaming Partners

Core Loopcoreloop.aiin

Core Loop is a fully remote game studio focused on building multiplayer online games.

Gaming

Co-investorsAndreessen Horowitz

Cosmic Loungecosmiclounge.comin

Cosmic Lounge is a startup that develops mobile puzzle games.

GamingHelsinki, FI

Co-investorsBoost Capital PartnersProject A VenturesTRANSCEND

Dash Gamesdashgames.coin

Dash Games develops casual mobile games, starting with Puzzle Punks, a player-versus-player match-3 game for iOS and Android.

GamingLondon, GB

Francisco Furtado(Founder)in

Co-investorsRLC VenturesHeracles CapitalSisu Ventures

DazzleRocksdazzle.rocks

Joonas Jokela(Founder)Stella Wang(Founder)

Co-investorsbyFoundersSpintop VenturesGalaxy Interactive

Empty Vesselemptyvessel.ioMay 2025

Gaming studio building AAA tactical shooter Defect

Austin, US

Garrett Young(Director)Emanuel Palalic(Executive Officer, Director)

BoardJere Partanen(Director)inJeonghee Jin(Director)Daniel Bunting(Director)in

Co-investors1AM GamingRaptor GroupYunt Capital

Exit Plan Gamesexitplangames.comin𝕏Jan 2022

Exit Plan Games is an independent video game development studio founded by veterans of major AAA titles, creating original games with accessible gameplay mechanics.

Gaming

Damien Monnier(Co-Founder/Design Director)inJose Teixeira(Co-Founder/Art Director)in

Co-investorsSMOK VenturesTencent Holdings

Extra Dimension Gamesextradimension.games

Extra Dimension Games is a video game development studio that prototypes, iterates, and builds original games based on player feedback.

GamingKitchener, CA

Chris Gander(Founder)inSean Wylie-Toal(Founder)in

Co-investorsWaterloo Accelerator Centre

Fuzzybotfuzzybot.comin𝕏Seed · Sep 2021 · $4M

FuzzyBot is a small independent game studio developing experimental video games, including a co-op horror game and a roguelite/life-sim hybrid action RPG.

ConsumerGamingLos Angeles, US

Max Spielberg(Director)inTatyana Dyshlova(Executive Officer, Director)in

GC Turbogcturbo.com𝕏

GC Turbo develops gaming technology for entertainment on major digital platforms, serving game developers and publishers.

Gaming

Co-investorsDreamers VCStreamlined Ventures

Hypercorehypercore.aiinApr 2021 · $6.8M

Hypercore provides software to track and manage syndicated debt funding sources, loan terms, and investor returns.

Data & InfrastructureEnterprise SoftwareFintechSaaSTel Aviv-Yafo, IL

Daniel Liechtenstein(Founder)inEitan Frailich(Founder)inTomer Moshe(Founder)inDavid Yahalomi(Founder)inLee Ashuri(Operations and Finance Manager)

Co-investorsInsight PartnersNZVCY Combinatorat.inc/ATINCFAST — by GETTYLAB+3 more

Immersalimmersal.comin𝕏May 2019

Immersal develops augmented reality technology that enables developers to integrate spatial mapping and visual positioning capabilities, allowing digital content to interact with the physical world.

AI & Machine LearningDeep TechDeveloper ToolsIoTHelsinki, FI

Mikko Karvonen(CPO, Co-Founder)inTeemu Berglund(CXO, Co-Founder)inPanu Liukkonen(CTO, Co-Founder)inFuxin Kiuru(Business Director, Asia & Europe)in

Co-investorsBright Pixel Capitalgumi IncPresence Capital

Jam & Teajamandtea.studioin𝕏Aug 2023

Jam & Tea Studio is a game development studio building multiplayer games with emergent, AI-powered gameplay, including its released title Retail Mage and a flagship project codenamed Project Emily.

AI & Machine LearningGamingLos Angeles, US

Theodore Carl Kwoh(Executive Officer, Director, Promoter)Jeffrey Aaron Farr(Director, Promoter)J Aaron Farr(Co-founder & Chief Technical Officer)inT Carl Kwoh(Co-founder & Chief Executive Officer)inSamantha Bong(Chief Operating Officer)Michael Yichao Wang(Director, Promoter)

Co-investorsLondon Venture Partners

Kinoakinoa.ioin

Kinoa is an AI-powered LiveOps platform that lets mobile app companies and game studios manage user engagement, retention, and monetization from a single dashboard — including communications, remote config, segmentation, A/B testing, and user flows — without code changes or new app releases.

AI & Machine LearningGamingSaaS

Roi Eyal(Founder)in

Lightheartlightheart.gamesin𝕏Apr 2021 · $6.8M

Lightheart is a game studio that develops mobile action games, including Mr.

ConsumerGamingHelsinki, FI

Miikka Ahonen(Founder)in

Co-investorsGalaxy InteractiveMakers Fund

Mainframe Industriesthemainframe.com

Finnish-Icelandic game developer building Pax Dei, a cloud-native sandbox MMO playable across mobile, PC and console.

Ansu Lonnberg(Founder)Kjartan Emilsson(Founder)Kjartan Pierre Emilsson(Founder)Thor Gunnarsson(Founder)

Co-investorsAndreessen HorowitzCrowberry CapitalPlay VenturesMaki.vc

Multiscriptionmultiscription.comJan 2023 · $2M
Mygamezmygamez.comin

MyGamez helps global mobile game publishers enter and grow in the Chinese market through localization and publishing services, offering Western-facing interfaces and transparent partnerships.

B2B MarketplacesGamingMedia & Entertainment

Mikael LeinoneninCharles Chiangin

Neon Giantneongiant.sein𝕏

Neon Giant is a video game development studio that creates entertainment titles, assembling experienced AAA game creators to produce innovative gaming experiences.

Gaming

Network Nextnetworknext.comin

Network Next provides network acceleration for multiplayer games, reducing latency for players with high ping.

Data & InfrastructureGaming

Co-investorsBitkraft Esports VenturesMango CapitalUncorrelated Ventures

New Talesnewtales.comin𝕏

New Tales is an independent video game publisher that partners with game studios and develops its own game IPs, offering go-to-market and community marketing services.

GamingMedia & EntertainmentLyon, FR

Cédric Maréchal(President)in

Co-investorsBitkraft Esports VenturesMotier Ventures

Next Gamesnextgames.comin𝕏

Next Games is a Netflix-owned game studio that develops games based on original ideas and Netflix intellectual property.

GamingMedia & EntertainmentHelsinki, FI

Teemu Mikael Huuhtanen(Executive Officer)Joakim Achren(Director)inMikael Jan Kennet Achren(Executive Officer)Kalle Johannes Hiitola(Director)Jaakko Ensio Jumisko(Executive Officer)

BoardPETER LEVIN(Director)

Co-investorsAMC NetworksIDG CapitalLowercase Capital

Nimble Foxnimblefox.aiin

Nimble Fox is an AI tool for Unity developers that generates game assets and Unity components — including GameObjects, Prefabs, scripts, audio, characters, and particle systems — from text ideas.

AI & Machine LearningDeveloper ToolsGaming

Co-investorsWave Ventures

Phoenix Gamesphoenixgames.comin𝕏

Phoenix Games builds a games company by partnering with and supporting game studio founders, helping them grow creatively and financially.

AI & Machine LearningGaming

Klaas Kersting(CEO)inTodd English(COO)inNorman Pretzl(CFO)inJustin Stolzenberg(CMO)in

Co-investorsBLN Capital

Playco enterprise-saasplay.co

Playco is an instant gaming company that develops web-based games playable across platforms without app downloads, designed for people to play together with friends and family.

Gaming

Michael Carter(Co-founder)Justin Waldron(Co-founder)inTakeshi Otsuka(Co-founder)inCross(Co-founder)

Co-investorsDreamers VCFirestreak VenturesGood AI CapitalMaiora Rebel VenturesMaven VenturesRoosh Ventures+5 more

Playmore Gamesplaymoregames.comin𝕏

Playmore Games is a software and gaming company that develops Dized, a companion app helping players learn and play board games without reading rulebooks.

ConsumerGamingSaaSHelsinki, FI

Psyon Gamespsyongames.comin𝕏

Psyon Games develops video games designed to support mental health and well-being, targeting healthcare markets and the life science industry.

Digital HealthGamingHealthtechMental HealthJyväskylä, FI

Olli Rundgren(CEO & Founder)inPasi Piitulainen(Executive Chairman & Co-founder)inValtteri Lahti(COO & Co-founder)in

Co-investorsFuturistic.VCNordic Game Ventures

Resolution Gamesresolutiongames.comin𝕏Oct 2018

Resolution Games is a game studio that develops virtual and mixed reality games across platforms from PC to XR, with titles including Demeo, Racket Club, Blaston, and Spatial Ops.

ConsumerGamingStockholm, SE

Carl-Arvid Ewerbring(Founder)inTommy Palm(Founder)inMartin Vilcans(Founder)Paul Brady(Founder)

Co-investorsBitkraft Esports VenturesBonnier CapitalColopl NextGV (Google Ventures)MizMaa Venturesnode.vc+7 more

Return Entertainmentreturnentertainment.comFeb 2022

Finnish cloud-native game studio building instant-access, cross-device games playable in browsers and on smart TVs.

Co-investorsBitkraft Esports VenturesSamsung NextvgamesSMOK Ventures

Rocky Roadrockyroad.io

Rocky Road is building a social gaming network that connects gamers.

GamingSocial

Co-investorsCrowberry Capitalfoobar.vcLuminar VenturesSisu Ventures

Sans Strings Studiosansstrings.studioin𝕏

Sans Strings is an animation, visual effects, and entertainment studio that produces creative work and production pipelines for entertainment brands.

Creator EconomyGamingMedia & Entertainment

Andy(Head of Operations, Business Development & Creative Strategy)

Co-investorsCrosscourt VenturesKima VenturesRed River WestA16Z SpeedrunAndreessen Horowitz

Scorespacescorespace.netin𝕏

ScoreSpace runs monthly game jams where developers build games around a theme in 72 hours, then advances top titles to live platform testing and full publishing with monetization and live ops support.

GamingMedia & Entertainment

Seven Starssevenstars.gamesinFeb 2025

Seven Stars is a mobile game studio that develops casual games, including "Castaway Isle," a merge-and-restore game with a mystery narrative.

ConsumerGaming

Alex Le Bell(Founder)Markus Tuppurainen(Founder)Olli Aurola(Founder)

Co-investorsBehold VenturesFailup VenturesSpintop VenturesSapphire PartnersStepstone Group

Shark Punch / Matchmadematchmade.tv

Matchmade is a platform that connects content creators on YouTube, Twitch, and TikTok with brands and advertisers for sponsorship and collaboration opportunities.

AI & Machine LearningCreator EconomyMarketing TechMarketplaces

Singasinga.com𝕏

Singa provides a karaoke streaming service accessible via computer, mobile devices, and smart TVs, offering a library of karaoke songs including original recordings.

ConsumerGamingMedia & Entertainment

Co-investorsInvesdorSuperhero Capital

Skunkworks Gamesskunkworksgames.comin𝕏

Skunkworks is a game development studio building games and products, with published work including collaboration with PG SOFT on the game Wild Bandito.

GamingHelsinki, FI

Small Giant Gamessmallgiantgames.comin

Helsinki-based mobile game developer building social, long-lifecycle games, operating since 2013.

Ilkka Juopperi(Founder)Markus Halttunen(Founder)Otto Nieminen(Founder)Timo Soininen(Founder)Tommi Vallisto(Founder)

Co-investorsButterfly VenturesSpintop VenturesCreandumEQT VenturesFirst Fellow Partners

Snowprint Studiossnowprintstudios.comin𝕏Acquired

Snowprint Studios develops mobile mid-core free-to-play games designed for casual gamers.

ConsumerGamingStockholm, SE

Co-investorsCrit VenturesHiro CapitalKorea Investment Partners

Solfarsolfar.com

Solfar is a virtual reality studio that develops VR games and experiences, including the title "In Death" and "Everest VR," available on platforms such as PlayStation VR.

Gaming

Solstensolsten.ioinAug 2022 · $22M

Solsten builds an audience-understanding platform that uses psychometrics and AI to profile the psychological makeup of a company's users, primarily to help game studios and brands design more engaging experiences.

AI & Machine LearningData & InfrastructureGamingMarketing TechBerlin, DE

Bastian Bergmann(Co-founder)inJoe Schaeppi(Co-founder & CEO)in

Co-investorsAlumni VenturesDentsu VenturesGFR FundInventureKonvoy VenturesMilkbox Partners+6 more

Starbornestarborne.com

Starborne is a science-fiction strategy game set in an intergalactic universe where players command fleets, engage in tactical space battles, and explore frontiers.

Gaming

Superplus Gamessuperplusgames.comin𝕏

Superplus is a mobile game studio founded by former Rovio developers that builds casual multiplayer games for mobile devices.

GamingHelsinki, FI

Aarni Linnakangas(Founder)inAlexandra Linnakangas(Founder)inKalle Jyly(Founder)in

Co-investorsMakers Fund

Theorycraft Gamestheorycraftgames.comin𝕏Jan 2021

Theorycraft Games is a game studio building competitive multiplayer and player-focused games, led by veterans from major franchises including League of Legends, VALORANT, Overwatch, and Diablo.

GamingLos Angeles, US

Joe Tung(Founder)inMoby Francke(Founder)inAreeb Pirani(Founder)inMichael D. Evans(Founder)Mike Tipul(Founder)

Co-investorsAndreessen HorowitzMakers FundNew Enterprise Associates (NEA)Griffin Gaming PartnersNetEase

Thridversethirdverse.io

Thirdverse is an XR game studio that develops immersive virtual reality games and social experiences, including social VR, multiplayer sword fighting, hero shooters, and narrative action titles, for players worldwide.

ConsumerGaming

Masaru(Founder / CEO)

Co-investorsCyberAgent CapitalFenbushi CapitalKDDI Open Innovation FundKUSABINOW JapanJAFCO Group

Torpor Gamestorporgames.comSeed · Nov 2025

Torpor Games develops video games, including a title that blends a choose-your-own-adventure visual novel with a grand strategy simulation where players manage a young republic through economic recession, political factions, and a border conflict.

Gaming

Tribotribo.gamesin𝕏Jan 2022Defunct

Tribo brings proven mobile games to the open web for instant browser play without app store downloads, and uses AI agents to run user acquisition, live operations, retention, and monetization.

AI & Machine LearningGamingMedia & EntertainmentHelsinki, FI

Arto Huhta(Founder)inBorja Guillan(Founder)inMika Kuusisto(Founder)inIlkka Siik(Founder)in

Co-investorsMerit CirclePlay Ventures

Utopos Incutoposgames.com𝕏

Utopos Games is a video game developer building retro-style arcade shooters and multiplayer games across PC, console, and mobile, including titles like Guntech 2, Utopos, and Raivo, an AI-powered auto-battler that uses machine learning.

AI & Machine LearningConsumerGamingLas Vegas, US

Jani PenttinenJohn Comes

Varjovarjo.comin𝕏Sep 2017 · $8.2M

Varjo develops extended reality (XR) simulation technology for military and defense training applications, with products designed to train personnel in operations such as counter-drone tactics.

Defense TechEnterprise SoftwareHardwareHelsinki, FI

Urho Konttori(Founder)inKlaus Melakari(Founder)Niko Eiden(Founder)Roope Rainisto(Founder)

Co-investorsAtomicoBragiel Brothersgumi IncLifeline VenturesNext47NordicNinja+5 more

W4 Gamesw4games.comin

W4 Games provides enterprise professional services, platform ports, XR support, and premium support for teams using the open-source Godot game engine in production.

Developer ToolsEnterprise SoftwareGamingDublin 12 Ireland, IE

Remi Verschelde(Co-founder)inNicola Farronato(Co-founder & Co-CEO)inFabio Alessandrelli(Co-founder)inJuan Linietsky(Co-founder)inDarin Bifani(Executive Officer)inPaul Haycock(Executive Officer)

Co-investorsLux CapitalOSS CapitalTencent Holdings

Wildseed Gameswildseed.games

Wildseed Games was a video game studio.

Gaming

Withcoherencewithcoherence.com

Zach Zaro(Founder)Zan Faruqui(Founder)

Co-investorsIrregular ExpressionsRRE VenturesArtesianFuturistic.VC

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Sisu Game VenturesBON GamesCombo BreakerDieNo GamesDoppio GamesEsports Coaching AcademyKopla GamesNextmindNutfarm GamesPocket BurgerQuicksave InteractiveSilvercoin StudiosUmbraUnagiWonder Hive

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Sisu Game Ventures made?
Sisu Game Ventures has 70 tracked investments, 1 of which have exited, including 4 dated in the last 24 months.
What stage does Sisu Game Ventures invest at?
Sisu Game Ventures invests at the Pre-Seed, Seed stages.
What sectors does Sisu Game Ventures focus on?
Sisu Game Ventures focuses on Gaming.
Where is Sisu Game Ventures located?
Sisu Game Ventures is headquartered in Oslo, NO.
Does Sisu Game Ventures lead rounds?
Yes, Sisu Game Ventures leads investment rounds.
Who does Sisu Game Ventures co-invest with?
Sisu Game Ventures most often shares deals with Initial Capital, Bitkraft Esports Ventures, Andreessen Horowitz, among 82 tracked co-investors.
What size deals does Sisu Game Ventures back?
Across 8 deals with disclosed amounts, Sisu Game Ventures has joined rounds of $2M – $22M (median $4.9M).

Media · Podcasts & interviews

featuring the team

Samuli Syvähuoko, Sisu Game Ventures

Bit1 Game Award · Samuli Syvähuoko

Co-investors · 1

Bitkraft Esports Ventures

BITKRAFT Ventures is a global investment platform focused on gaming, interactive media, and related technologies, backing companies building at the convergence of physical and digital worlds (which it calls Synthetic Reality).

$100K – $5M

Firms observed investing alongside Sisu Game Ventures, from public investor directories. Shared companies are the overlap with Sisu Game Ventures's recorded portfolio.

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