Patron, an early-stage firm focused on gaming and consumer start-ups, has closed on $100 million for its second fund with support from nine high-profile VCs.
Funds of funds manager Horsley Bridge Partners anchored Fund II. Other backers include university endowments, sovereign wealth funds and institutional family offices, as well as notable VCs including:
- Andreessen Horowitz co-founder Marc Andreessen and general partner Chris Dixon,
- Union Square Ventures co-founder Fred Wilson,
- Y Combinator CEO Garry Tan,
- Benchmark general partner Mitch Lasky,
- FirstMark co-founders Rick Heitzmann and Amish Jani,
- SV Angel founder Ron Conway and
- Altos Ventures co-founder Ho Nam.
Patron Fund II began fundraising in August 2023 and held a first close on about $88 million from 46 investors in August of this year, according to a regulatory filing. The firm’s debut fund closed on $90 million from 137 investors in November 2021, according to another filing.
Patron, based in Santa Monica, California, was founded in 2021 by Jason Yeh and Brian Cho, both of whom held executive positions at Riot Games, “with Yeh playing a pivotal role in the launch of League of Legends and Cho in the launch of Valorant,” according to a statement from the firm.
“Hundreds of millions of consumers are growing up immersed in platforms like Roblox and Discord, spending the bulk of their online time in these environments as the first truly gaming-native generation,” Cho said. “We are excited to continue backing visionary founders who are pioneering new experiences for this generation, using gaming as the initial wedge to build venture-scale businesses and reshape how these consumers engage with the internet.”
The firm’s first fund invested in 21 companies. Among those that have since raised additional capital are: Altera, an AI company building digital human beings, which raised $11.1 million in its first five months of operation; Kudos, an AI-powered smart wallet, which completed an oversubscribed Series A round led by QED Investors; and Raid Base, a sandbox gaming studio from the creators of Valorant at Riot Games, which received a follow-on investment from Andreessen Horowitz.
Patron, an early-stage firm focused on gaming and consumer start-ups, has closed on $100 million for its second fund with support from nine high-profile VCs.
Funds of funds manager Horsley Bridge Partners anchored Fund II. Other backers include university endowments, sovereign wealth funds and institutional family offices, as well as notable VCs including:
- Andreessen Horowitz co-founder Marc Andreessen and general partner Chris Dixon,
- Union Square Ventures co-founder Fred Wilson,
- Y Combinator CEO Garry Tan,
- Benchmark general partner Mitch Lasky,
- FirstMark co-founders Rick Heitzmann and Amish Jani,
- SV Angel founder Ron Conway and
- Altos Ventures co-founder Ho Nam.
Patron Fund II began fundraising in August 2023 and held a first close on about $88 million from 46 investors in August of this year, according to a regulatory filing. The firm’s debut fund closed on $90 million from 137 investors in November 2021, according to another filing.
Patron, based in Santa Monica, California, was founded in 2021 by Jason Yeh and Brian Cho, both of whom held executive positions at Riot Games, “with Yeh playing a pivotal role in the launch of League of Legends and Cho in the launch of Valorant,” according to a statement from the firm.
“Hundreds of millions of consumers are growing up immersed in platforms like Roblox and Discord, spending the bulk of their online time in these environments as the first truly gaming-native generation,” Cho said. “We are excited to continue backing visionary founders who are pioneering new experiences for this generation, using gaming as the initial wedge to build venture-scale businesses and reshape how these consumers engage with the internet.”
The firm’s first fund invested in 21 companies. Among those that have since raised additional capital are: Altera, an AI company building digital human beings, which raised $11.1 million in its first five months of operation; Kudos, an AI-powered smart wallet, which completed an oversubscribed Series A round led by QED Investors; and Raid Base, a sandbox gaming studio from the creators of Valorant at Riot Games, which received a follow-on investment from Andreessen Horowitz.
