Patron Reveals $100M USD Fund II

Key insights

6 takeaways

01
Venture capital firm Patron has raised $100 million for its second fund, aimed at supporting early-stage startups in the gaming and technology sectors.
02
Patron has already deployed capital from the new fund into four undisclosed startups.
03
The fund is backed by institutional investors, including sovereign wealth funds, university endowments, and family offices, alongside prominent individual investors such as Marc Andreessen and Garry Tan.
04
Patron’s investment strategy focuses on backing founders building businesses for gaming-native generations who spend significant time on platforms like Roblox and Discord.
05
Founded in 2021 by former Riot Games executives Jason Yeh and Brian Cho, the firm previously raised a $90 million Fund I that invested in 21 companies, including Altera, Kudos, Tonic Music, and Raid Base.
06
The firm’s leadership team includes partners with professional backgrounds at companies such as Riot Games, Slack, Oculus, and Andreessen Horowitz.

Summary

Patron, an early-stage venture capital firm, has officially launched its second investment vehicle, Fund II, totaling $100 million USD. The firm focuses on supporting startups within the gaming sector and related industries, specifically targeting founders who are building experiences for a generation that spends significant time in immersive digital environments like Roblox and Discord. The firm has already deployed capital from this new fund into four undisclosed startups.

The capital for Fund II was raised with support from Horsley Bridge Partners and a diverse group of institutional investors, including university endowments, sovereign wealth funds, and institutional family offices. Additionally, the raise attracted high-profile individual investors from the venture capital and technology sectors, such as Marc Andreessen, Chris Dixon, Fred Wilson, Garry Tan, Mitch Lasky, Rick Heitzmann, Amish Jani, Ron Conway, and Ho Nam.

Founded in 2021 by former Riot Games executives Jason Yeh and Brian Cho, with the later addition of partner Amber Atherton, Patron leverages the team’s extensive leadership experience at major technology and gaming companies. This new fund follows the firm’s $90 million Fund I, which invested in 21 companies, including Altera, Kudos, Tonic Music, and Raid Base. The firm continues its strategy of providing institutional seed funding to help startups use gaming as a foundational element for building scalable, long-term businesses.