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§ Venture Capital · Sao Paulo, Brazil
Venture capital fund for early-stage video game startups, developers, tools, tech, and infrastructure in Europe, Nordic focus.
Behold Ventures is an early-stage venture capital firm based in Stockholm, Sweden, that invests exclusively in video game development studios and gaming technology startups. The firm provides equity funding to European creators, with a particular emphasis on the Nordic region, targeting both game developers and related infrastructure platforms. Operating as a traditional venture fund, the organization closed its inaugural investment vehicle at approximately $59.2 million. To date, the firm has successfully deployed $21 million in capital across 18 distinct portfolio companies. Behold Ventures is backed by prominent limited partners including global gaming corporations Supercell and Pearl Abyss, while its active investment portfolio features interactive entertainment companies such as Resolution Games, Mountaintop Studios, and LootLocker. The firm was officially founded in 2021 by industry veterans Karl Magnus Troedsson, Sigurlina Ingvarsdottir, Magnus Kenneby, and Martin Walfisz.
Key people at Behold Ventures.
Behold Ventures has 18 tracked investments across 17 companies. The latest tracked deal is $4.0M Series U in VaultN in November 2025.
Key people at Behold Ventures.
Behold Ventures is a Swedish early-stage venture capital fund specializing in investments in European video game startups, with a strong focus on the Nordic region. Its mission is to back ambitious and creative game entrepreneurs by leveraging the deep operational experience of its team, which consists of seasoned gaming industry veterans. The fund invests in both game developers and companies building gaming tools and technologies, aiming to foster innovation and long-term value creation in the gaming ecosystem. Behold Ventures actively supports its portfolio companies through strategic guidance, hands-on operational support, and access to a broad international network, thus playing a significant role in nurturing the European gaming startup ecosystem[1][2][4].
Founded in 2021 in Stockholm, Sweden, Behold Ventures was established by three key partners: Karl Magnus Troedsson, Sigurlína Ingvarsdóttir, and Magnus Kenneby. Karl Magnus Troedsson brings over two decades of experience as a game developer and studio leader at major companies like DICE and Electronic Arts. Sigurlína Ingvarsdóttir is an Icelandic engineer and game producer with leadership roles on major franchises such as EVE Online and Star Wars Battlefront. Magnus Kenneby has a background in strategy consulting, corporate finance, and private equity, with extensive experience as a business angel investor. The fund was created to combine their complementary expertise and to provide early-stage capital and operational support to promising gaming startups in Europe, particularly in the Nordics[1][3][6].
Behold Ventures is riding the global trend of increasing investment and innovation in the gaming sector, which is experiencing rapid growth driven by technological advances, expanding audiences, and new business models such as live services and cloud gaming. The fund’s Nordic and European focus taps into a vibrant regional ecosystem known for creative game development and strong technical talent. The timing is favorable as the gaming industry continues to mature and diversify, with startups needing not only capital but also operational expertise and strategic guidance—areas where Behold Ventures excels. By supporting early-stage companies, Behold Ventures helps shape the future of interactive entertainment and contributes to strengthening Europe’s position in the global gaming market[1][4].
Looking ahead, Behold Ventures is poised to expand its portfolio and deepen its influence in the European gaming startup scene. Trends such as augmented reality, virtual reality, blockchain gaming, and AI-driven game development are likely to shape its investment focus. The fund’s hands-on approach and strong industry ties position it well to identify and nurture the next generation of gaming innovators. As the gaming ecosystem evolves, Behold Ventures’ role as both a capital provider and strategic partner will likely grow, reinforcing its mission to back creators of "digital magic" and helping to sustain the Nordic region’s reputation as a global gaming hub[1][4][6].
