The puzzle game development industry in DACH has emerged as a dynamic segment of the broader gaming ecosystem. Companies ranging from indie creators to established publishers focus on crafting engaging puzzle experiences that captivate players. This sector offers a mix of mobile, tabletop, and online games, with an increasing emphasis on interactive elements. Notably, innovations in technology allow for deeper player engagement and unique game mechanics. As consumer preferences evolve towards mobile and social gaming, the market is experiencing significant growth, sparking exciting project developments and attracting investment from a variety of sources.


The puzzle game development investors in DACH exhibit a range of styles and focuses. Venture capital firms like Game Seer Venture Partners and Speedinvest showcase the burgeoning market potential, while corporate investors such as Miniclip emphasize strategic acquisitions. Spanning locations from Munich to Zurich, these investors, with deal counts ranging from 1 to 77 in 2024, highlight dynamic engagement with a flourishing sector and significant backing for both new and established game developers.


Top 15 Puzzle Game Development Investors in DACH


1. Miniclip

  • Website: miniclip.com
  • Type: Corporate
  • Headquarters: Neuchâtel, Neuchâtel, Switzerland
  • Founded year: 2001
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: miniclip

Miniclip is a mobile game publisher based in Neuchâtel, Switzerland, specializing in digital games and entertainment. Founded in 2001, the company has grown to reach over 400 million players monthly with popular titles like 8 Ball Pool and Subway Surfers. In recent years, Miniclip has made significant acquisitions to expand its portfolio in the casual gaming sector, including the purchase of Easybrain for $1.2 billion, which is known for its mobile games that often feature puzzle elements. They also acquired Ilyon Games for $100 million, a studio recognized for its casual and puzzle games. Furthermore, Miniclip's acquisition of Lessmore, a studio known for titles like Eatventure, and SYBO Games, the developer of Subway Surfers, showcases their commitment to enhancing their game offerings, including those in the puzzle genre.


2. Game Seer Venture Partners


Game Seer Venture Partners GmbH is a venture capital firm based in Aschaffenburg, Bavaria, Germany, founded in 2019. The firm specializes in the gaming industry, providing funding and strategic support to indie game development studios to help them create and publish their games. Game Seer focuses on building partnerships with studios to enhance their capabilities and ensure successful project outcomes. Notable transactions include their investment in Breaking Walls, which raised $1.75 million for its debut game, Away: The Survival Series, and their involvement with Gamera Interactive, which raised $1.3 million in a seed round. Although the specific genres of the games funded are not detailed, the firm's commitment to indie developers suggests a potential interest in diverse gaming genres, including puzzle games.


3. Phoenix Games | acquiring and enhancing game studios

  • Website: phoenixgames.com
  • Type: Corporate
  • Headquarters: Karlsruhe, Baden-Württemberg, Germany
  • Founded year: 2018
  • Headcount: 201-500
  • Number of deals in 2024: 1
  • LinkedIn: phoenix-games-gmbh

Phoenix Games is a gaming company based in Karlsruhe, Baden-Württemberg, Germany, specializing in acquiring and enhancing free-to-play game studios. Founded in 2018, the company focuses on supporting small to medium-sized game developers to overcome industry challenges and improve profitability. Phoenix Games operates using an AI-based platform to enhance game performance. Notably, they have acquired several studios, including SmileyGamer, which is recognized for its match-3 games, and Sad Panda Studios, known for its Idle-Dating simulations. These acquisitions highlight their commitment to enhancing existing titles and developing new games, particularly in the puzzle genre, as seen with SmileyGamer's successful portfolio. Other acquisitions, such as Sixteen Tons Entertainment and CharStudio, further illustrate their strategy of expanding their influence in the gaming industry.


4. TA Ventures

  • Website: taventures.vc
  • Type: Venture Capital
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: ta-ventures

TA Ventures is a venture capital firm based in Frankfurt, Hesse, Germany, founded in 2010. The firm specializes in early-stage technology startups across various sectors, including HealthTech and FinTech, while also showing a notable interest in the gaming industry. They have participated in significant funding rounds for companies like Flaregames, which focuses on mobile and social games, and Pixonic, a publisher of social network games. More recently, they invested in Mystic Games, which is developing a mobile title, indicating their ongoing engagement in the gaming sector. Their strategic support and capital provision aim to help startups grow in competitive markets, and they actively build networks for their portfolio companies.


5. 1kx

  • Website: 1kx.network
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2018
  • Headcount: 11-50
  • Number of deals in 2024: 19
  • LinkedIn: 1kxnetwork

1kx is a venture capital firm based in Berlin, Germany, founded in 2018. Specializing in the cryptocurrency sector, 1kx focuses on ecosystem growth and provides advisory services to founders in the web3 space, helping them bootstrap token networks and achieve economic sustainability. The firm emphasizes community engagement and hands-on support in the creation and design of token models. In the gaming context, 1kx has participated in notable transactions such as Playmint, which raised $4 million for developing game chapters for The Crypt, and MatchboxDAO, a community of on-chain game developers that raised $7.5 million. These investments highlight 1kx's engagement in the gaming industry, particularly in projects that may intersect with puzzle game development.


6. Speedinvest

  • Website: speedinvest.com
  • Type: Venture Capital
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: speedinvest

Speedinvest is a venture capital firm based in Vienna, Austria, founded in 2011. The firm specializes in funding early-stage tech startups across Europe, providing both capital and hands-on support to help these startups scale their operations. Their investment focus spans various technology sectors, including Deep Tech, Fintech, and SaaS. Notably, Speedinvest has also ventured into the gaming industry, exemplified by their investment in Secret City Trails, a puzzle game that raised a pre-seed funding round of 150k in November 2018. This investment highlights their interest in the gaming sector, particularly in projects that involve puzzle elements, alongside their broader technology investment strategy.


7. Oracles Investment Group


Oracles Investment Group is a Berlin-based venture capital firm founded in 2017, focusing on decentralized finance, metaverse development, and blockchain gaming. The firm caters to high-net-worth individuals and institutional investors, providing them with research, strategic partnerships, and consulting services to navigate the crypto market effectively. In 2024, they participated in several seed rounds, including a $2.5 million investment in NexGami and a $1.6 million investment in Sekuya, both of which are likely to be involved in gaming development. Additionally, their previous investments in companies like VisionGame and MagicCraft highlight their commitment to the gaming sector, particularly in innovative and emerging areas such as blockchain gaming, which can encompass puzzle games.


8. Possible Ventures

  • Website: possible.ventures
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2021
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: possible-vc

Possible Ventures is a venture capital firm based in Munich, Bavaria, Germany, founded in 2021. The firm has a small team and has been active in various investment rounds, with 9 investments in 2024 alone. Notably, Possible Ventures has participated in funding rounds for gaming companies, including Omeda Studios, which raised €19.1 million in a Series A round to accelerate hiring and launch their game 'Predecessor'. They also invested in Omeda Studios during a seed round in 2021. While their primary focus appears to be on fintech through their involvement with OwnHome, their engagement in the gaming sector indicates a broader investment strategy that could encompass puzzle game development.


9. HV Capital

  • Website: hvcapital.com
  • Type: Venture Capital
  • Headquarters: Flensburg, Schleswig-Holstein, Germany
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: hvventures

HV Capital is a venture capital firm based in Flensburg, Schleswig-Holstein, Germany, founded in 2000. With over €2.8 billion under management, HV Capital specializes in investing in digital companies and supporting entrepreneurs from seed stage to exit. They have been actively involved in the gaming sector, particularly through their investments in Wooga, a prominent social game developer known for its engaging puzzle games. HV Capital participated in multiple funding rounds for Wooga, including seed funding in 2009 and subsequent Series A and B rounds, demonstrating their commitment to the growth and development of puzzle and social games. Additionally, they have invested in GameDuell, another gaming company, further solidifying their presence in the gaming industry.


10. Sictic

  • Website: sictic.ch
  • Type: Venture Capital
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2014
  • Headcount: 201-500
  • Number of deals in 2024: 77
  • LinkedIn: sictic

SICTIC is a not-for-profit organization based in Zurich, Switzerland, that connects smart money investors with innovative Swiss early-stage technology startups. Founded in 2014, SICTIC provides investment opportunities, networking events, and educational resources to facilitate the growth of startups and the investment community. Among their notable transactions, they participated in the Series A funding of N-Dream AG (AirConsole), which raised over $3 million to expand its gaming platform. Additionally, they were involved in the funding of Struckd, a platform that allows users to create and share their own games, which aligns with the interactive and puzzle game development space. These transactions highlight SICTIC's engagement in the gaming sector, particularly in areas that could encompass puzzle game development.


11. IBB Ventures


IBB Ventures is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in early-stage financing and has invested in over 270 startups, providing not only capital but also expertise and resources to help these businesses thrive in competitive markets. Among their notable transactions, IBB Ventures invested in Softgames GmbH, a company that operates a mobile HTML5 gaming platform, which aligns with the puzzle game development sector. This investment highlights their engagement in the gaming industry, suggesting a willingness to support innovative gaming startups. Additionally, they have participated in various funding rounds for other tech startups, showcasing their broad investment strategy while maintaining a focus on innovative and scalable business models.


12. bmp Ventures

  • Website: bmp.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 1997
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: bmpventures

bmp Ventures AG is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in investing in early-stage and growth startups across various innovative sectors, providing not only financial resources but also strategic advisory services to help startups navigate their growth journey. Notably, bmp Ventures has been involved in multiple seed funding rounds for gamebook, a company that has raised significant amounts over the years, indicating their interest in the gaming sector. Their investment in 2tainment further showcases their engagement with gaming companies, reinforcing their position as a venture capital firm that supports tech companies and entrepreneurs in the gaming industry.


13. Oriole Ventures

  • Website: oriole.ventures
  • Type: Corporate
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2022
  • Headcount: 1-10
  • LinkedIn: oriole-vc

Oriole Ventures is a corporate investment fund based in Zurich, Switzerland, founded in 2022. The firm specializes in supporting blockchain projects in the WEB 3.0 space, providing capital injection, marketing expertise, and connections with crypto-influencers to help projects succeed. Their investment portfolio includes various projects, such as Nitro League, a play-to-earn racing game that raised $5 million, and other blockchain-related ventures like Zone, BEMIL Coin, Solice, and PlatoFarm. While their primary focus is on blockchain technology, their involvement in gaming projects, particularly those that leverage play-to-earn mechanics, positions them as a relevant player in the gaming investment landscape, including potential puzzle game development.


14. L1d Ag

  • Website: l1d.com
  • Type: Corporate
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2018
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: l1digital

L1D AG is an investment management firm based in Zurich, Switzerland, founded in 2018. The firm specializes in institutional investing in cryptocurrency, providing portfolio management, investment advisory, and asset management services to institutional clients. L1D AG has a global network that allows them to access exceptional investment opportunities. In 2024, they participated in significant funding rounds for gaming companies, including Opti Games, which raised $2 million in a seed round, and Oxalis Games, which also raised $2 million in a venture round. Additionally, they invested in Pixion Games, which raised $12.4 million in a venture round in early 2025. These transactions highlight L1D AG's engagement in the gaming industry, particularly in companies that may be involved in puzzle game development.


15. Plaion

  • Website: plaion.com
  • Type: Corporate
  • Headquarters: Planegg, Bavaria, Germany
  • Founded year: 1994
  • Headcount: 1001-5000
  • LinkedIn: plaion

PLAION is an entertainment company based in Planegg, Bavaria, Germany, specializing in the development, publishing, and distribution of video games, films, and merchandise. Founded in 1994, PLAION has a global reach and a diverse portfolio, serving consumers and businesses in the gaming and entertainment sectors. Notably, PLAION has made significant acquisitions in the gaming industry, including Vertigo Games, Flying Wild Hog, Warhorse Studios, and Voxler. These acquisitions reflect PLAION's strategy to enhance its presence in the gaming market, potentially including various genres such as puzzle games, although their specific focus on puzzle games is not explicitly stated. The company's commitment to high-quality products and services positions it as a significant player in the entertainment sector.



Puzzle Game Development Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
MiniclipNeuchâtel, Neuchâtel, Switzerland1001-500020012
Game Seer Venture PartnersAschaffenburg, Bavaria, Germany1-1020191
Phoenix Games | acquiring and enhancing game studiosKarlsruhe, Baden-Württemberg, Germany201-50020181
TA VenturesFrankfurt, Hesse, Germany11-5020105
1kxBerlin, Berlin, Germany11-50201819
SpeedinvestVienna, Vienna, Austria51-200201145
Oracles Investment GroupBerlin, Berlin, Germany11-50201710
Possible VenturesMunich, Bavaria, Germany1-1020219
HV CapitalFlensburg, Schleswig-Holstein, Germany11-50200028
SicticZurich, Zurich, Switzerland201-500201477
IBB VenturesBerlin, Berlin, Germany11-50199718
bmp VenturesBerlin, Berlin, Germany11-5019973
Oriole VenturesZurich, Zurich, Switzerland1-1020220
L1d AgZurich, Zurich, Switzerland11-5020185
PlaionPlanegg, Bavaria, Germany1001-500019940


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