The Dundee gaming duo behind the global success of Minecraft have made another seven-figure investment that will support young businesses.
Chris van der Kuyl and Paddy Burns, owners of 4J Studios, have invested £1 million into SIS Ventures’ investment fund, Impact First.
The Dundee games pair set up Chroma Ventures last year as an investment arm of their video game development studio.
The investment arm of 4J Studios has already made investments in Dundee firm Stormcloud Games and Ant Workshop, based in Edinburgh.
Impact First launched its second round of fundraising in February.
Its aim was to attract up to £5 million to scale up investment in early-stage businesses.
The investment by Chroma Ventures, in addition to a further £700,000 committed by other investors, means the fund has now exceeded its minimum target.
It will proceed to first close over the next two months.
Making a positive difference to lives
Mr van der Kuyl said: “Since our first investment in 2019, we’ve been impressed by SIS Ventures’ expertise and ability to identify opportunities in companies that will make a significant, positive difference in people’s lives.
“SIS Ventures’ ambition and approach complements our desire to invest in exceptional leaders and teams.
“That is why we have chosen to enhance our support through their Impact First fund.”
SIS Ventures has already invested around £3.5m into 10 businesses.
Each business is on a path to providing vital services, like Dxcover, which is providing earlier diagnosis for life-limiting diseases.
Another to benefit from SIS Ventures is Cyacomb, which tackles some of the world’s most serious online harm issues.
This second fundraise presents an opportunity for investors to support existing Impact First investees.
It also allows investment in new, early-stage businesses.
The minimum investment sought from investors is £20,000, with each investor invested in at least eight businesses over a period of seven to 10 years.
SIS ‘very excited’ by funding
Head of SIS Ventures Jill Arnold said: “Ever since launching Impact First, we have maintained an unwavering belief in the potential of an impact-focused fund for the investor community.
“It harnesses the power of business and innovation to help address society’s greatest challenges and needs.
“This cornerstone investment from Chroma Ventures reinforces that belief and illustrates the current demand among investors for mission-aligned opportunities.”-
Ms Arnold said she was “very excited” about working with the Minecraft duo as lead investors in the fund.
“We hope this encourages others to come on board,” she added.
“Investor interest in the fund, since announcing the second fundraise earlier this year, has been very promising.
“We’re on track to reach our target over the next couple of months.”
