Industry veterans from Blizzard, Bungie, Riot Games and Valve raised $ 37.5 million to launch a new studio called Theorycraft Games.
NetEase led the funding round into the nascent studio and was joined by NEA, Bitkraft Ventures, Griffin Gaming Partners and SISU Game Ventures.
Theorycraft, based in Seattle and Los Angeles, will use the money to expand its development team with “diverse and passionate” talent as it works to create a community-driven multi-platform PvP title.
The Theorycraft team has an impressive resume, having worked on high-profile franchises before, including League of Legends, Halo Destiny Overwatch Appreciation, and Team Fortress 2
Joe Chung, who serves as the executive vice president on the League of Legends franchise at Riot, will lead the studio as CEO. They will be joined by former Appreciation Overwatch, and Halo technical leader Michael Evans, who has been named Chief Technology Officer; and former Bungie creative director Mike Tipul, who will act as chief creative officer.
“Theorycraft Games is on a mission to create in-depth games that give everyone the opportunity to connect, compete and be infinitely happy with stories that put players right in the middle,” read a press release. “Theorycraft intends to meet players where they are, regardless of what platform they play on, where they live or how much money they can spend.”