Industry veterans from Blizzard, Bungie, Riot Games and Valve have raised $ 37.5 million to launch a new studio called Theorycraft Games.
NetEase led the funding round in the new 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-led PvP title for multiple platforms.
Theorycraft team boasts an impressive resume, having previously worked on profile franchises, inclusive League of Legends, Halo, Destiny, Overwatch, ASSESSMENT, and Fortress Team 2.
Joe Chung, who was executive vice president at League of Legends Riot franchise, will lead the studio as CEO. The former will join them ASSESSMENT, Overwatch, and Hate technical director Michael Evans, who was named chief technology officer; and former Bungie creative director Mike Tipul, who will take over as creative director.
“Theorycraft Games’ mission is to create deep games that give everyone a chance to connect, compete and be infinitely delighted with the stories that place players directly at the center,” a press release reads. “Theorycraft intends to meet players right where they are, no matter what platform they play on, where they live or how much money they can spend.”