Makers Fund is a venture capital firm based in Singapore that focuses exclusively on the interactive entertainment industry – primarily video games, gaming infrastructure, and adjacent technology. The firm was founded in 2017 and has built a reputation as one of the few gaming-specialist VCs operating globally from Asia.
The fund targets companies across the full spectrum of game development and publishing, from early-stage studios to gaming technology platforms. Its geographic scope is genuinely global: investments span North America, Europe, and Asia-Pacific, with the Singapore base giving the team proximity to fast-growing Southeast Asian and East Asian gaming markets. Public information about total AUM is limited; the firm has not disclosed a consolidated figure across all vehicles, though early funds were in the range of $85–100 million.
Makers Fund occupies a niche that overlaps with the crypto space through blockchain gaming and interactive entertainment infrastructure. The firm has participated in funding rounds for companies building on-chain gaming economies and digital asset ownership layers for games – an area that saw significant capital inflows between 2021 and 2023.
Notable investments
- Hypixel Studios – Minecraft-adjacent game studio; backed prior to its acquisition by Riot Games in 2020, one of the firm's highest-profile early bets.
- Social Point – Mobile games studio known for Dragon City; early portfolio holding that was later acquired by Take-Two Interactive.
- Immutable – Ethereum Layer 2 platform built specifically for gaming NFTs and digital asset trading; one of the firm's most notable blockchain gaming positions.
- Carry1st – African mobile gaming and payments platform; reflects the fund's emerging-market exposure.
- Voodoo – Hyper-casual mobile game publisher based in France; among the largest independent mobile studios in Europe.
Public information about the full portfolio is limited. The firm does not maintain a comprehensive public deal log. Crunchbase and the official site list partial holdings.
Team
Jay Chi serves as Managing Partner and co-founded the firm. His background spans both the operational side of gaming companies and institutional investing in Asia. He has been the most publicly visible figure representing the fund at industry events including GDC and games investment summits. Public information about other named partners is limited – the team operates with a relatively low media profile compared to generalist VC firms of similar size.
Recent activity
Between 2024 and early 2026, Makers Fund maintained a selective pace. The broader gaming VC market contracted sharply after the 2021–2022 peak, and many gaming-focused funds slowed deployment. Makers Fund signaled continued interest in AI-driven game development tooling and blockchain gaming infrastructure – two areas where the gaming and crypto industries overlap most directly.
The firm's participation in blockchain gaming positions it within the crypto venture ecosystem, though it remains primarily a gaming investor rather than a pure crypto fund. Its retail ROI multiple of approximately 5.94× reflects a portfolio shaped by a decade-long secular growth trend in gaming, punctuated by the turbulent 2021–2023 blockchain gaming boom and subsequent correction.
For investors and founders tracking crypto-adjacent gaming capital, Makers Fund represents a specialist voice – one that evaluates blockchain projects through the lens of player retention and studio fundamentals rather than token mechanics alone. More information is available at makersfund.com.
