Our Investment Thesis
Over the past decade, games have radically transformed from packaged entertainment to social network-like online services that scale like consumer technology companies. Today’s games also drive innovation across the entire consumer ecosystem through new methods of engagement, retention, and monetization. We believe that games will play a pivotal role in defining how we socialize, play, and work over the next century.
Game Studios: Today’s best games are continually updated online services whose players form an integral part of the game through multiplayer and user-generated content. These “games-as-a-service” have become rich, interactive social networks whose in-game player friendships rival those made in person.
Games x Consumer: The rapidly growing number of gamers worldwide has created a thriving ecosystem of consumer apps to support them. As gaming becomes the top way people spend time, we believe some of the most innovative consumer companies will be built around player communities.
Infrastructure: As games evolve into virtual worlds and online services, the demand for the tools and services needed to build great games will only continue to skyrocket. We also believe the coming metaverse will be built by games companies, using games technologies.
Any investments or portfolio companies mentioned, referred to, or described on this page are not representative of all investments in vehicles managed by a16z and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. Exits include current and former a16z portfolio companies which have been acquired as well as companies which have undergone an initial public offering or direct public offering of shares. Certain publicly traded companies on this list may still be held in Andreessen Horowitz funds. A list of investments made by funds managed by a16z is available here: https://a16z.com/investments/. Excluded from this list are investments for which the issuer has not provided permission for a16z to disclose publicly as well as unannounced investments in publicly traded digital assets. Further, the list of investments is updated monthly and as such may not reflect most recent a16z investments. Past results of Andreessen Horowitz’s investments, pooled investment vehicles, or investment strategies are not necessarily indicative of future results.
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