Early-stage venture capital company Patron announced that its second fund raised $100 million.
The fund, announced on Tuesday, September 17, includes investors such as Andreessen Horowitz Co-founder Marc Andreessen, and General Partner Chris Dixon. The company said the support from investors highlights confidence in a future in which technology will be shaped by the mass adoption of games by consumers.
Brian Cho, Patron co-founder and general partner, says that hundreds of millions of users are growing on platforms such as Roblox and Discord, spending most of their online time in these environments and becoming the first generation truly focused on games. He also stated that the company is excited to back the visionary founders who are pioneers in generating new experiences for the mentioned generation, using games as a platform to build a venture-scale business and shape the way these consumers engage with the Internet.
The first Patron fund invested in 21 firms, many of which then raised additional capital. In this case, the following are implied Tonic Music, a platform for live-streaming music practice, a Raid Base sandbox gaming studio, and an artificial intelligence-powered Kudos smart wallet.
It is worth noting that against the background of the scaling of the above-mentioned practice of spending a significant amount of time in the online environment, the issue of cybersecurity is being updated. Criminals operating in the virtual space are constantly upgrading their methods. In the context of the corresponding challenge in the cybersecurity area, the personal awareness of users is of particular importance. For example, a query in an Internet search engine, such as how to know if my camera is hacked, will allow anyone to get information about signs of unauthorized access to the device.
