1Up Ventures

1Up Ventures, operating primarily as 1Up Fund, is a highly specialized venture capital firm based in Kirkland, Washington, uniquely focused on early-stage video game developers. Founded by industry veterans Ed Fries, Kelly Sumner, and Mike Vorhaus, the firm leverages its deep expertise in the gaming sector to identify and nurture promising independent studios. Ed Fries, notably a former Vice President of Game Publishing at Microsoft, brings significant strategic insight and a vast network to the fund's portfolio companies, positioning 1Up Fund as a value-add investor beyond mere capital provision.

The firm's investment strategy centers on providing crucial early-stage funding to game development teams, typically at the pre-seed or seed stages. 1Up Fund aims to support studios that are innovating within the interactive entertainment space, offering not just financial backing but also mentorship and operational guidance from its experienced team. Their typical initial investment, or first check, ranges from $500,000 to $2,000,000, reflecting their commitment to providing substantial capital to help nascent studios achieve critical development milestones and market entry.

Since its inception, 1Up Fund has demonstrated consistent growth and commitment to its niche. The firm successfully closed its first fund at $17 million, followed by a $30 million second fund in 2021, and most recently, a $40 million third fund in 2023. This progressive increase in fund size underscores investor confidence in 1Up Fund's specialized approach and its ability to identify and support successful game development ventures. The firm's targeted focus allows it to build a concentrated portfolio of companies that benefit from tailored support within the competitive and rapidly evolving video game industry.