Theorycraft Games Raises $50 Million to Maintain Long-Term Focus on Talent and Game


LOS ANGELES–(BUSINESS WIRE). Theorycraft Games will use this increase to continue building the most talented team in games and ensure they can continue to develop deep 10,000 hour games that are simply better when played with friends like the company’s first game with the code names Loki.

With an extensive cast of unique heroes, Loki, is a competitive, team-based game of adventure, creativity, and high-stakes combat. Drawing inspiration from previous Theorycraft collective experiences working on titles like League of Legends, over watch, glorioleand VALORANT.

“Apart from the pedigree of the talent base, we are continually impressed by Theorycraft’s pace of development and the quality of what they have delivered in less than two years,” said Jay Chi, founder of Makers Fund. “Joe and his team have created the perfect blend in modern game development – a system-first, no-bs, get-things-done culture combined with deep design flair and an insatiable community-centric approach.”

Over the past 18 months, Theorycraft Games has attracted a small but mighty team made up of the best developers in the world, including artistic leadership VALORANT, over watchand arcanetechnical leadership VALORANT, League of Legends and Teamfight Tacticsand design/product leadership of Halo, Destiny, Legends of Runeterra and League of Legends. They came along in May Legends of Runeterra Game Director Andrew Yip and most recently League of Legends Game director Jon Belliss.

“What has drawn both talent and investors to our cause is our belief great games serve basic human needs, and a studio eager to meet those needs—beyond market trends, emerging technology, or endless sequels—is an exciting opportunity to make an impact on the industry we love,” said Joe Tung, CEO and co-founder of Theorycraft Games. “If you’re a game developer who wants more autonomy and more influence; if you want to focus on developing the most comprehensive games in the world; If you’re looking to hyper-serve an incredible community that has helped us get this far, we’d love to hear from you!”

Theorycraft Games has hosted external playtests with real players for most of the studio’s existence, with their largest playtest occurring in just a few weeks. Learn more about Theorycraft Games and Loki, visit theorycraftgames.com. For North American PC gamers interested in playtesting Lokivisit theorycraftgames.com/community.

About Theorycraft games

Theorycraft Games is an independent games studio on a mission to create deep, 10,000 hour games that are simply better when played with friends. Theorycraft was founded in December 2020 by Joe Tung, Mike Tipul, Michael Evans, Areeb Pirani and Moby Francke – former studio heads at Riot Games, Bungie, Blizzard and Valve Software. Together they led the development of games such as League of Legends, gloriole, determination, over watch, VALORANT, dota 2and Team Fortress 2.

Theorycraft Games is a fully decentralized studio with roots in Los Angeles, Irvine and Seattle.

About Makers Fund

Makers Fund is a global interactive entertainment venture capital firm focused on early-stage investments. Makers is dedicated to driving growth and innovation in the interactive entertainment industry. With more than 90 portfolio companies to date, Makers offers founders strategic added value that comprehensively meets the needs of companies throughout the industry’s value chain. Visit makersfund.com for more information.



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