# Makers Fund: portfolio, investments and team

> Makers Fund is a vc firm based in Indonesia. 100 investments on record, 13 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/makers-fund (Millionrounds; every figure on the page links to its filing or article)

Indonesia · [Investor](https://millionrounds.com/investors)

# Makers Fund

Last cheque observed Oct 2026; 100 cheques on record.

Email

Deploying now VC firm

Pre-seed Seed Series A Sportstech Entertainment Videogames

Follow Makers Fund and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fmakers-fund)

Deploying now

**72%** of best year **13** **cheques in 12 months**, 100 on record

Since the last cheque **11** days **00** hrs **00** min **00** sec

Median round **$10M** Rounds led **4 of 100** Sole investor **13 rounds** Exits **1 from the portfolio** Mostly in **United States, 51%**

Pitch Makers Fund

## Makers Fund highlights

- 01 13 cheques in the last 12 months
- 02 Mostly Seed and Venture: 62% of its rounds
- 03 Sole investor in 13 rounds, median $4.5M
- 04 1 exits from the portfolio

## What they do

> Makers Fund is a global venture capital fund dedicated to games and interactive entertainment From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Up to $40M as they say
- **Stages:** Pre-seed Seed Series A Series B Growth
- **Sectors:** Sportstech Entertainment Videogames
- **Based in:** Farmington, Indonesia
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **100 appearances**

- **2026** 12 rounds
- **Oct** **[Flow Games](https://millionrounds.com/company/flow-games)** TR · Google News search **$49M** With 3 others
- **Jul** **[Bold Games](https://millionrounds.com/company/bold-games)** Seed · TR **$6.0M** With 1 other
- **Jun** **[TinyBuild](https://millionrounds.com/company/tinybuild)** Venture · US **Undisclosed** Sole investor
- **Apr** **[Chance Studios](https://millionrounds.com/company/chance-studios)** Seed · TechStartups **$3.2M** *Led*
- **Apr** **[Packz](https://millionrounds.com/company/packz)** Seed · US **$11M** With 3 others
- **Apr** **[GGWP](https://millionrounds.com/company/ggwp)** Series A · US **$15M** With 5 others
- **Mar** **[Highlight AI](https://millionrounds.com/company/highlight-ai)** Series A · US · Ventureburn **$40M** With 8 others
- **Mar** **[Cheer Games](https://millionrounds.com/company/cheer-games)** Pre-seed · ES **$4.5M** With 1 other
- **Mar** **[Vento Games](https://millionrounds.com/company/vento-games)** Seed · TR **$4.0M** With 1 other
- **Feb** **[Novig](https://millionrounds.com/company/novig)** Series B · US · Ventureburn **$75M** With 5 others
- **Feb** **[BLUFF](https://millionrounds.com/company/bluff)** Ventureburn **$21M** With 4 others
- **Jan** **[Midnite](https://millionrounds.com/company/midnite)** Series C · GB **$35M** With 3 others
- **2025** 11 rounds
- **Nov** **[Donut Labs](https://millionrounds.com/company/donut-labs)** Seed · US · Ventureburn **$15M** With 5 others
- **Oct** **[Bondu](https://millionrounds.com/company/bondu)** Seed · US **$5.3M** With 1 other
- **Jul** **[BetaDwarf](https://millionrounds.com/company/betadwarf)** Venture · DK **Undisclosed** Sole investor
- **May** **[Donut Labs](https://millionrounds.com/company/donut-labs)** Pre-seed · US · TechStartups **$7.0M** With 9 others
- **May** **[VOYA Games](https://millionrounds.com/company/voya-games)** Seed · DE **$5.0M** With 2 others
- **May** **[Dream Games](https://millionrounds.com/company/dream-games)** Debt · TR **$1.3B** With 3 others
- **Apr** **[Hybe IM](https://millionrounds.com/company/hybe-im)** Venture **$20M** With 2 others
- **Mar** **[Teller Novel](https://millionrounds.com/company/teller-novel)** Venture · JP **$6.7M** With 1 other
- **Mar** **[Human Computer](https://millionrounds.com/company/human-computer)** Seed · US **$5.7M** With 1 other
- **Feb** **[AudioMob](https://millionrounds.com/company/audiomob)** Venture · GB **$5.0M** With 2 others
- **Feb** **[Voldex](https://millionrounds.com/company/voldex)** Venture · GB **Undisclosed** With 3 others
- **2024** 14 rounds
- **Nov** **[BIT ODD](https://millionrounds.com/company/bit-odd)** Seed · FI **$18M** With 2 others
- **Sept** **[Forge](https://millionrounds.com/company/forge)** Venture · US **Undisclosed** With 4 others
- **Sept** **[Cashmere AI](https://millionrounds.com/company/cashmere-ai)** Seed · US **$3.6M** With 6 others
- **Aug** **[FRVR](https://millionrounds.com/company/frvr)** Venture · GB **$13M** With 2 others
- **Jul** **[Sekai Studio](https://millionrounds.com/company/sekai-studio)** Seed · FR **$11M** With 4 others
- **Jul** **[Medal](https://millionrounds.com/company/medal)** Venture · NL **$13M** With 4 others
- **Jul** **[NPC Labs](https://millionrounds.com/company/npc-labs)** Seed · US **$18M** With 4 others
- **Jul** **[Rune](https://millionrounds.com/company/rune)** Venture · US **$8.0M** With 4 others
- **Jul** **[Thinkr](https://millionrounds.com/company/thinkr)** Series A · JP **$33M** With 3 others
- **Jun** **[Pika](https://millionrounds.com/company/pika)** Series B · US **$80M** With 6 others
- **May** **[Monad](https://millionrounds.com/company/monad)** Venture · US **Undisclosed** With 5 others
- **Jan** **[Blocklords](https://millionrounds.com/company/blocklords)** Seed **$15M** With 2 others
- **Jan** **[Rebel Bots](https://millionrounds.com/company/rebel-bots)** Venture **Undisclosed** With 4 others
- **Jan** **[End Game Interactive](https://millionrounds.com/company/end-game-interactive)** Venture · US **Undisclosed** With 2 others
- **2023** 18 rounds
- **Dec** **[Genpop Interactive](https://millionrounds.com/company/genpop-interactive)** Venture · US **$9.9M** With 1 other
- **Oct** **[Noodle Cat Games](https://millionrounds.com/company/noodle-cat-games)** Series A · US **$12M** With 2 others
- **Oct** **[BitStar](https://millionrounds.com/company/bitstar)** Debt · JP **$3.9M** With 4 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **3 named**

MK **Michael Koon Wah Cheung** Director i Form ADV

RL **Ryann Lai** President i Form ADV

YL **Yi Ling Pang** Director i Form ADV

We also hold **27** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$718M** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Makers Investment Advisor II SG Pte. LTD.
- **SEC number:** CRD 321127

## Exits from the portfolio

Companies it backed that were later bought or listed **1 in all**

**[Unit 2 Games](https://millionrounds.com/company/unit-2-games)** Bought by [Facebook](https://millionrounds.com/fund/facebook) **Undisclosed** Jun 2021

An exit counts when it came after the firm's first round in the company. From historical deal records.

## The cheque

Pre-seed Seed Series A

Median round joined **$10M** the round, not its cheque Alone, median **$4.5M**

Led 4 of 100 rounds **4%**

- **Said size:** Up to $40M
- **Sole investor:** 13 rounds
- **Last cheque:** Oct 2026
- **Exits:** 1 from the portfolio

Rounds by stage said on their site

- Seed said *32*
- Venture *20*
- Series A said *19*
- Series B said *9*
- Series C *4*
- Pre-seed said *-*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Y Combinator](https://millionrounds.com/fund/y-combinator) 9
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 8
- [Play Ventures](https://millionrounds.com/fund/play-ventures) 8
- [Galaxy Interactive](https://millionrounds.com/fund/galaxy-interactive-2) 6
- [Griffin Gaming Partners](https://millionrounds.com/fund/griffin-gaming-partners) 6
- [Animoca Brands](https://millionrounds.com/fund/animoca-brands) 4

**Pitching Makers Fund?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

Add to your CRM *→*

## Who they invest alongside

The investors most often in the same rounds as Makers Fund. A count of rooms they were both in, not a relationship either has claimed.

[**Y Combinator** Accelerator **9** rounds together](https://millionrounds.com/fund/y-combinator)[**Andreessen Horowitz** VC firm **8** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Play Ventures** VC firm **8** rounds together](https://millionrounds.com/fund/play-ventures)[**Galaxy Interactive** VC firm **6** rounds together](https://millionrounds.com/fund/galaxy-interactive-2)[**Griffin Gaming Partners** VC firm **6** rounds together](https://millionrounds.com/fund/griffin-gaming-partners)[**Animoca Brands** Accelerator **4** rounds together](https://millionrounds.com/fund/animoca-brands)[**ByFounders** VC firm **3** rounds together](https://millionrounds.com/fund/byfounders)[**Coinbase Ventures** Corporate VC **3** rounds together](https://millionrounds.com/fund/coinbase)[**Global Brain Corporation** VC firm **3** rounds together](https://millionrounds.com/fund/global-brain-corporation)[**Hashed** VC firm **3** rounds together](https://millionrounds.com/fund/hashed)[**Index Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/index-ventures)[**Korea Investment Partners** VC firm **3** rounds together](https://millionrounds.com/fund/korea-investment-partners)

## Recently backed

The latest companies Makers Fund put money into.

[**Bold Games** $6.0M · Jul 2026](https://millionrounds.com/company/bold-games)[**TinyBuild** Jun 2026](https://millionrounds.com/company/tinybuild)[**Chance Studios** $3.2M · Apr 2026](https://millionrounds.com/company/chance-studios)[**Packz** $11M · Apr 2026](https://millionrounds.com/company/packz)[**GGWP** $15M · Apr 2026](https://millionrounds.com/company/ggwp)[**Cheer Games** $4.5M · Mar 2026](https://millionrounds.com/company/cheer-games)

## Mentioned on podcasts

Episodes that name Makers Fund in their description, not their title.

- [The Peel](https://millionrounds.com/podcasts/the-peel) 18 Dec 2023 · 1h 11m 🎮 General Intuition Co-founder Pim de Witte on Growing Medal to 10+ Million Gamers Mentions [Makers Fund](https://millionrounds.com/fund/makers-fund) Apple PodcastsShow page

## Quick answers about Makers Fund

### What does Makers Fund invest in?

Makers Fund invests most often at Seed and Venture (62% of the rounds on record), in sectors such as Sportstech, Entertainment and Videogames.

### How active is Makers Fund?

100 investments on record, 13 of them in the last 12 months, and it led 4. The most recent was in Oct 2026.

### What has Makers Fund invested in recently?

Its most recent investments on record: Flow Games (Oct 2026), Bold Games (Seed, Jul 2026) and TinyBuild (Venture, Jun 2026).

### How big are Makers Fund's cheques?

The median round it joins is $10M.

### Does Makers Fund lead rounds?

Sometimes: it led 4 of its 100 investments on record (4%).

### Where does Makers Fund invest?

Most of the companies it backs are in the United States (51%), Türkiye (11%) and the United Kingdom (11%).

### Is Makers Fund investing now?

Yes: it is actively investing, with 13 investments in the last 12 months.

### Who does Makers Fund invest alongside?

Most often Y Combinator (9 rounds together), Andreessen Horowitz (8 rounds together) and Play Ventures (8 rounds together).

## Raising now?

Find the investors who back rounds like yours, and keep every conversation on one fundraising board.

Find similar investorsOpen your CRM

Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=makers-fund) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=makers-fund)