The Funding Round: Exceptional Team of Investors and Advisors
Today, Gardens, an indie game studio, has announced that it raised $31.3 million in Series A funding. The funding round was led by Lightspeed Venture Partners and Krafton, with participation from prominent industry veterans, major gaming platforms, and publishers. The impressive syndicate of investors includes connections to companies such as Nintendo, Sony, Microsoft, Tencent, TikTok, and more.
Notable investors in the round include Lightspeed Venture Partners, Krafton, Dreamhaven (co-founded by Mike Morhaime, founder and former CEO of Blizzard Entertainment), TIRTA, Rendered VC, Stephen “Slim” Lim (co-creator of Valorant), Nate Mitchell (co-founder of Oculus), Annie and Jeff Strain (co-founders of Prytania Media and co-creators of Guild Wars and State of Decay), Seth Sivak (VP of Development of World of Warcraft), V Pappas (former COO of TikTok), Julien Merceron (CTO of Bandai Namco), and Craig Kallman (CEO of Atlantic Records), among others. Seed round lead Transcend Fund and Funplus, who were early supporters, also increased their commitments.
Additionally, Gardens has expanded its advisory team to include industry veterans John W. Thompson (former Microsoft Chairman), Jack Tretton (former Sony Computer Entertainment America President and CEO), Ben Feder (former Tencent President and Take-Two CEO), and Yamauchi No.10 (Nintendo Family).
The Game: Online PvPvE Fantasy Adventure Sandbox ARPG
Gardens, led by co-founder and game director Chris Bell, is developing an ever-evolving online player versus player versus environment (PvPvE) fantasy adventure sandbox action role-playing game (ARPG). The game draws inspiration from the team’s favorite memories of playing online RPGs, MMOs, and fantasy action-adventure games over the years, particularly the memories of interacting with strangers in these virtual worlds.
According to Bell, the game aims to build upon multiplayer ideas and lessons learned from previous titles he helped design, such as Journey, Sky, and Way. Gardens seeks to create a high-stakes, shapeshifting fantasy wilderness where cooperation is crucial but betrayal remains a possibility. The studio plans to introduce innovative cooperative gameplay mechanics that reward players who assist each other, encouraging friendship and dialogue while also incorporating player-versus-player (PvP) elements that subvert traditional expectations. The team envisions a world that offers new experiences with every playthrough, with ongoing growth and evolution for years to come.
Gardens has assembled a talented team of industry veterans from acclaimed games like Sky: Children of the Light, Journey, What Remains of Edith Finch, Blaseball, Ultima Online, Outer Wilds, Tunic, Dustforce, and Ashen, as well as professionals with experience in film productions like The Hobbit and The Adventures of Tintin.
The Progress: “Standout” Reception of Prototype Shown at GDC
To kick off the fundraising round, Gardens showcased a playable prototype of their game behind closed doors at GDC 2023. The prototype received exceptional reviews from financial and strategic investors, platforms, and publishers. The demo was praised for its innovative and joyful nature, featuring a gorgeous fantasy wilderness teeming with adventurers, magical creatures, and captivating landscapes to explore.
The multiplayer co-op elements of the prototype stood out, emphasizing tactile interactions between players as they collaborate to navigate the world, solve puzzles, and awaken dormant magic. Examples of cooperative gameplay included riding atop a friend’s shoulders to reach fruit in a tree, leaping across chasms with the assistance of strangers, and working together to remove armor from a giant monster or cast powerful spells. The game’s potential impressed investors, who expressed excitement for players to experience the unique blend of gameplay features firsthand.
Maria Park, Vice President and Head of Corporate Development at Krafton, who is joining Gardens’ board of directors, commented on the prototype, stating that it showcased what the team had achieved in a short period. Park recognized the game’s potential and expressed enthusiasm for being part of Gardens’ journey.
The Unique Angle: Gardens’ Blend of Indie Creativity with AAA Ambitions
Investors were particularly drawn to Gardens due to its distinctive combination of indie-like design innovation, creativity, and playfulness, coupled with its global ambition and commercial focus. They noted that Gardens stands out among the numerous venture capital-backed game studios that have emerged from prominent companies like Riot Games, Blizzard, and Epic Games in recent years.
Moritz Baier-Lentz, Partner and Head of Gaming at Lightspeed Venture Partners, who is also joining Gardens’ board of directors, commented on the studio’s unique qualities. With experience leading investments of over $100 million in the gaming industry, Baier-Lentz described Gardens as magically different from anything he had seen before. He expressed his belief that the studio is at the early stages of something truly special and conveyed Lightspeed’s commitment to supporting Gardens in their pursuit of creating a masterpiece that achieves global success.
The Opportunity: Calling the Most Talented Game Designers, Engineers, and Artists
To match the ambitious scope of their grand fantasy project, Gardens plans to significantly expand their team this year. They are actively seeking the most talented game designers, engineers, and artists to join their ranks. With the latest round of funding and the support of their experienced investors and advisors, Gardens aims to continue crafting the best possible game while nurturing and supporting their exceptional team.
The studio’s goal is to create a captivating and immersive online PvPvE fantasy adventure sandbox ARPG that stands apart from the crowd and provides players with unforgettable experiences in a constantly evolving world.
