Industry veterans of Blizzard, Bungie, Riot Games and Valve raised $ 37.5 million to launch a new studio called Theorycraft Games.
NetEase led the funding round for the nascent studio and was joined by NEA, Bitkraft Ventures, Griffin Gaming Partners and SISU Game Ventures.
Headquartered in Seattle and Los Angeles, Theorycraft will use the money to expand its development team with “diverse and targeted” talent as it works to create a community-oriented PvP title for multiple platforms.
Theorycraft team has an impressive track record, having previously worked in high profile franchises, including League of Legends, Halo, Destiny, Overwatch, Valorant, and Team Fortress 2.
Joe Chung, who served as executive vice president at League of Legends Riot franchise, will lead the studio as CEO. They will be accompanied by ex- Valorant, Overwatch, and areola technology leader Michael Evans, who has been appointed chief technology officer; and former Bungie creative director Mike Tipul, who will take over as creative director.
“Theorycraft Games has a mission to create deep games that give everyone the chance to connect, compete and endlessly delight in stories that put players right in the center,” says a press release. “Theorycraft plans to find players exactly where they are, regardless of the platform they play on, where they live or how much money they can spend.”