Laton Ventures, a gaming and apps targeted enterprise capital agency based by Görkem Türk, has closed its first fund with $50 million.
The Istanbul enterprise capital fund is the biggest gaming and apps-focused fund in Türkiye, which has change into one of many outstanding world hubs for the gaming trade, stated Türk in a press release.
Laton Ventures will globally put money into pre-seed and seed stage gaming startups, whereas additionally backing non-gaming app corporations. Again in April, when introduced the fund, it had raised $35 million.
Distinguished by its discretionary hands-on operational assist mannequin, has skilled important development and traction in almost half of the businesses it invested in inside its first yr.
Throughout its first yr, Laton Ventures made 5 pre-seed and seed stage investments in gaming corporations throughout Türkiye, america, and Europe. Two of those corporations have achieved important milestones, elevating sizable Sequence-A rounds.
One in all them, Grand Video games who’s a Turkish cell gaming firm, has achieved securing a $30 million Sequence-A funding spherical in a file 9 months after its inception. The second portfolio firm who additionally raised a Sequence-A spherical is undisclosed for now.
Laton Ventures ranked among the many world high 10 most lively pre-seed and seed stage gaming VC funds in its first yr. Laton’s portfolio features a various set of corporations, from cutting-edge cell gaming studios to modern social gaming platforms.
The corporate has made 5 investments thus far. Three of these founders are in Türkiye or the businesses had been based by Turkish founders. Three folks work full-time for the fund and two work part-time.
Laton Ventures is backed by over 40 exited gaming/tech founders and trade veterans spanning greater than 10 international locations. Amongst them are founders or former executives of famend corporations comparable to Peak, Gram, Loop, and Huuuge. The fund’s buyers additionally embody high-profile firms comparable to Supercell, the creator of hit video games like Conflict of Clans, and Tibas Ventures, the enterprise capital arm of İş Bankası, Türkiye’s largest non-public financial institution. As well as, the fund is supported by institutional buyers and household places of work from numerous elements of the world.
Founding associate Türk stated in a press release, “We consider in proficient groups with distinctive imaginative and prescient, creating modern video games, apps, and next-generation leisure platforms. We’re passionate concerning the cell platform and its future evolution, pushed by the tailwind of AI and integration of social components.”
Türk stated, “We’re pleased with the achievements of our portfolio corporations and the progress made in our first yr, which has been a testomony to the power of our targeted funding technique. We really feel privileged and enthusiastic about supporting the very best founders within the gaming and apps ecosystems throughout Türkiye and the globe.”
Previous to founding Laton, Türk was gaming and startups trade supervisor at Google, the place he led partnerships and development advisory with gaming/apps startups and ecosystem companions. Türk additionally has held numerous roles at corporations comparable to P&G and Worth Companions Administration Consulting all through his profession.
Requested what the corporate would put money into, Türk stated, “We are going to deal with the classes with very massive viewers base in cell gaming. Equally, we are going to deal with non-gaming apps with use circumstances that enchantment to very massive audiences.”
He stated Laton won’t be investing in Web3 and crypto-related enterprise fashions for this particular fund.
He stated, “We are going to hold working with the very best groups.”
