Patron Reveals $100M USD Fund II

Patron launches $100M USD Fund II. Image credit: Patron

Early-stage venture capital firm Patron announced Tuesday that it has raised a $100M USD Fund II, with support from Horsley Bridge Partners and institutional investors that included university endowments, sovereign wealth funds, and institutional family offices, according to a release. Individual investors backing this raise included 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. 

“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,” said Brian Cho, general partner and co-founder at Patron. “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.“

Founded in 2021 by former Riot Games executives Jason Yeh and Brian Cho, Patron aims to provide support for startups in gaming and other sectors by providing institutional seed funding. In 2023, Yeh and Cho were joined by Amber Atherton. Collectively, Patron’s partners have held executive and leadership roles at Riot Games, Oculus, Slack, Andreessen Horowitz, FirstMark Capital, and a16z, among others. 

Patron’s $90M Fund I invested in 21 companies including AI company Altera, AI-powered smart wallet company Kudos. live-streaming music practice platform Tonic Music, and game publisher Raid Base. Patron said in its announcement that it has “already invested in four companies with Fund II, with more details to be announced.”