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Sweden’s largest games-focused VC fund will be early-backer for next-gen game entrepreneurs

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Stockholm-based Behold Ventures has raised $25.9M to support startups that enrich the gaming industry with their innovative ideas. The fund has already committed approximately €25 million and is targeting to double it. The firm has 12 companies in its portfolio and supporters from Nordic gaming sector.

Behold Ventures is an active fund founded in 2021 by gaming veterans Karl Magnus Troedsson, Sigurlina Ingvarsdottir and Magnus Kenneby. The aim is to take advantage of the founders’ respective skills to identify, and at an early stage invest in, start-ups active in the gaming industry. Through the founders’ experience and a uniquely composed network of game developers and experts, the portfolio companies gain access to a knowledge bank that provides optimal conditions for profitable growth and future returns.

Gaming and Investor Veterans Establish Sweden’s Largest Games-focused Venture Capital Fund

Behold Ventures Is a New Venture Fund Focusing Entirely on Investments in Gaming Start-ups, Mainly in the Fast-growing Nordic Industry Cluster

Sweden’s largest games-focused VC fund, Behold Ventures, was launched by the company’s veteran founder group. The fund, with EUR 25 million committed to date, was founded by three well-known profiles from the video games and investment industries – Karl Magnus Troedsson (Raw Fury, EA/DICE), Sigurlina Ingvarsdottir (CCP, EA/DICE) and Magnus Kenneby (Sequent) and is backed by investors, advisors and other contributors spanning the industry’s most well-known and trusted names.

Behold Ventures was established to solely target early-stage investments in video game start-ups, primarily in the Nordic markets. The strategy is to use the founders’ long experience and network from the gaming industry to successfully find and invest in start-ups, help to create and accelerate value-building, and provide significant returns in the long term not only for its investors, but for its growing pool of portfolio companies.

Unique knowledge bank

In addition to the founders’ own expertise, the fund has a broad network of hand-picked experts and advisors from the Nordic gaming sector, forming the foundation of a uniquely composed experience bank. The intention is to let the portfolio companies have access to specialists in all areas of the industry e.g., production, marketing and business development. Optimal conditions are created for the start-up founders to be able to build game studios and launch games with great potential on the global market. For example, a game development veteran who is part of the expert network, and actively helping the fund’s portfolio companies, is Martin Walfisz, the founder of Massive Entertainment.

Karl Magnus Troedsson, founder and partner of Behold Ventures, comments:

Behold Ventures, Karl Magnus Troedsson”The uniquely successful Nordic games industry is more relevant than ever on a global market, and it’s clear that a steadily growing global audience considers video games to be the most rewarding form of entertainment. We believe that there is great value to be found in the sector if it’s done by investors who truly understand the gaming industry and can help entrepreneurs build highly successful and lasting companies.”

“Behold’s three founders have come together because we share this conviction, know that together we can act as catalysts and thereby achieve great results. We have successfully worked in the video games industry throughout our careers and know what it takes to create games that become global successes. We also have a world-class network consisting of highly experienced and dedicated experts that are deeply rooted in the Nordic gaming ecosystem and beyond. In addition, we have a large group of strategic investors who have contributed to the fund and will be long term assets for our companies. Together with all our partners, it provides our portfolio companies with an outstanding opportunity to grow successfully.”

Behold Venture’s first fund already has committed capital of approximately EUR 25 million, which almost exclusively comes from gaming veterans and leading global gaming companies. The goal is to close the fund at double the size, while now also opening the fund to more traditional investors. So far, Behold has twelve companies in the portfolio and will continue to invest at a high rate in the coming years.

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