The puzzles making industry in the US intertwines creativity and education, focusing on products that engage people of all ages. Companies in this sector produce a variety of puzzles, ranging from jigsaw puzzles to brainteasers and educational kits. These products enhance problem-solving skills while providing entertainment and learning opportunities. With a recent trend towards interactive and digital puzzles, along with increasing interest in eco-friendly materials, the industry is evolving rapidly. More brands are embracing subscription models, extending offerings to involve not just traditional puzzles but also tech-integrated activities that respond to today's fast-paced market.

This list features a mix of venture capital firms and corporate investors committed to the puzzles making sector. Headquartered mainly in California, these companies vary in size from small teams to large institutional players, founded from 2004 to 2023. 2024 saw these investors engage in numerous transactions, with some like Amazon and 500 Global leading significant rounds. This analysis provides insights into their investment strategies and focus areas as they support innovative startups within the industry.

Top 16 Puzzles Making Investors in the US

1. 500 Global

• Website: 500.co
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2010
• Headcount: 201-500
• Number of deals in 2024: 98
• LinkedIn: 500-startups

500 Global is a venture capital firm and startup accelerator based in San Francisco, California, founded in 2010. The firm specializes in investing in early-stage technology companies, providing not only funding but also mentorship and resources to help founders scale their businesses. Among their notable transactions, 500 Global has invested in KiwiCo, which raised a total of $10 million across multiple funding rounds (Seed and Series A) from 2011 to 2015. KiwiCo is known for its subscription service that delivers hands-on projects and activities for children, fostering creativity and learning through play. This focus on educational products aligns with the puzzles making industry, making 500 Global a relevant player in this space. Additionally, their participation in funding rounds for companies like Jewelbots further showcases their interest in innovative, youth-oriented products.

2. New Enterprise Associates (NEA)

• Website: nea.com
• Type: Venture Capital
• Headquarters: Menlo Park, California, United States (USA)
• Founded year: 1977
• Headcount: 51-200
• Number of deals in 2024: 57
• LinkedIn: new-enterprise-associates

New Enterprise Associates (NEA) is a prominent venture capital firm based in Menlo Park, California, founded in 1977. NEA specializes in investment management and advisory services for startups, particularly in the technology and healthcare sectors. The firm partners with entrepreneurs to provide funding and strategic guidance, helping them navigate the challenges of building successful businesses. NEA operates through a collaborative approach, emphasizing long-term relationships with founders. Notably, NEA has invested in Theorycraft Games, which raised $50 million in Series B funding to develop their first competitive, team-based game called Loki, and previously participated in their Series A round. This involvement in the gaming industry highlights NEA's interest in innovative entertainment solutions, which can include puzzles. Additionally, NEA has invested in other technology-driven companies like FiftyThree and Framebridge, showcasing their diverse portfolio while maintaining a focus on creative and engaging applications.

3. Foundry

• Website: foundry.vc
• Type: Venture Capital
• Headquarters: Boulder, Colorado, United States (USA)
• Founded year: 2007
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn: foundry-group

Foundry is a venture capital firm based in Boulder, Colorado, founded in 2007. It specializes in investing in startups and venture funds, aiming to create a symbiotic network that fosters innovation. Foundry provides capital, resources, and a trusted community for entrepreneurs, helping them navigate the challenges of building successful companies. Among its notable investments is Sphero, a company known for its interactive robotic toys that blend technology and play, appealing to both children and adults. Foundry's investment in Sphero spans multiple funding rounds, including Series B, C, D, and E, totaling over $100 million. This focus on innovative play products positions Foundry as a relevant player in the puzzles making industry, as these products often incorporate elements of problem-solving and creativity.

4. Deep Tech Fund (an Alumni Ventures Fund)

• Website: av.vc
• Type: Venture Capital
• Headquarters: Manchester, New Hampshire, United States (USA)
• Founded year: 2023
• Headcount: 51-200
• Number of deals in 2024: 258
• LinkedIn: deep-tech-fund-av-focused-fund

The Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios. With a network of over 10,000 investors, the firm focuses on connecting them with high-quality investment opportunities in the startup ecosystem. Notable transactions include investments in Artiphon, a company known for its innovative musical instruments, and Looking Glass Factory, which specializes in holographic displays. These investments indicate a commitment to supporting creative and technology-driven companies, which may intersect with the puzzles making industry.

5. Mana Up

• Website: manauphawaii.com
• Type: Venture Capital
• Headquarters: Honolulu, Hawaii, United States (USA)
• Founded year: 2018
• Headcount: 1-10
• Number of deals in 2024: 8
• LinkedIn: manaup

Mana Up is a not-for-profit organization based in Honolulu, Hawaii, founded in 2018. Their mission is to support local entrepreneurs in Hawaii by providing accelerator programs, venture capital funding, and a retail platform for local products. They aim to help Hawaiian companies scale globally while celebrating and promoting the unique cultural heritage of the islands. Among their notable transactions, Mana Up has provided non-equity assistance to Surf Shack Puzzles, a company dedicated to creating puzzles, which highlights their engagement in the puzzles making industry. Additionally, they have supported various other local businesses, but Surf Shack Puzzles stands out as a direct connection to the puzzles sector.

6. First Round Capital

• Website: firstround.com
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2004
• Headcount: 11-50
• Number of deals in 2024: 20
• LinkedIn: first-round-capital

First Round Capital is a venture capital firm founded in 2004, based in San Francisco, California. They specialize in seed-stage funding for technology startups, providing not only financial support but also strategic guidance to help early-stage companies grow. Among their notable investments are KiwiCo and Kiwi Crate, both of which focus on educational and creative activities for children, including puzzles. KiwiCo raised $3 million in a Series A round in 2015 and $2 million in a Seed Round in 2011, while Kiwi Crate, a subscription service for kids' activities, saw participation from First Round Capital in a funding round led by Comcast Ventures in 2012. These transactions highlight First Round Capital's engagement in the puzzles making industry, making them a relevant player in this space.

7. GV (Google Ventures)

• Website: gv.com
• Type: Venture Capital
• Headquarters: San Francisco Bay Area, California, United States (USA)
• Founded year: 2009
• Headcount: 51-200
• Number of deals in 2024: 74
• LinkedIn: gv

GV (Google Ventures) is a venture capital firm founded in 2009, based in the San Francisco Bay Area, California. With over $10 billion in assets under management, GV focuses on providing funding and support to innovative technology startups across various sectors, including life sciences and artificial intelligence. Notably, GV has invested in Lovevery, a company that raised $100 million in Series C funding in June 2021 and specializes in educational toys designed to promote child development. They also participated in Lovevery's Series B funding round, contributing to a total of $32 million raised by the company. Additionally, GV invested in Wonder Workshop, which raised $1 million in a seed round, and Superplastic, which has received significant funding for its creative projects. These investments highlight GV's interest in companies that intersect with the puzzles making industry, particularly in the realm of educational and developmental products.

8. Amazon

• Website: amazon.com
• Type: Corporate
• Headquarters: Seattle, Washington, United States (USA)
• Headcount: 10001+
• Number of deals in 2024: 37
• LinkedIn: amazon

Amazon.com, Inc. is a multinational technology company based in Seattle, Washington, primarily known for its e-commerce platform. Founded in 1994, Amazon has expanded its operations to include cloud computing, online advertising, digital streaming, and artificial intelligence services. In the context of puzzle making, Amazon has made significant investments and acquisitions that highlight its interest in this sector. Notably, Amazon acquired Hasbro, becoming the exclusive seller of the classic board game Monopoly, which is a staple in the puzzles and games market. Additionally, Amazon led a $20 million Series A extension investment in Superplastic, a company involved in creating animated content that could potentially include puzzle-related themes. These transactions demonstrate Amazon's engagement with the puzzles making industry, making it a noteworthy investor in this space.

9. BITKRAFT Ventures

• Website: bitkraft.vc
• Type: Venture Capital
• Headquarters: Denver, Colorado, United States (USA)
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 26
• LinkedIn: bitkraftvc

BITKRAFT Ventures is a venture capital firm founded in 2017, based in Denver, Colorado, specializing in investments in gaming and emerging technologies. With a focus on Synthetic Reality™, BITKRAFT is at the forefront of innovation in the gaming industry. They have been involved in several notable transactions, including leading a $5 million funding round for Lost Lake Games, a startup that may develop games with puzzle elements. They also participated in a $7 million funding round for Redemption Games, an independent studio that could potentially create puzzle-based gaming experiences. Additionally, their investment in Tilt Five, known for its AR headset for tabletop gaming, indicates their interest in interactive and innovative gaming solutions that could include puzzles. Overall, BITKRAFT Ventures is committed to supporting startups that navigate growth challenges in the gaming sector, making them a relevant player in the puzzle-making industry.

10. Maveron

• Website: maveron.com
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 1998
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn: maveron-llc

Maveron is a venture capital firm based in San Francisco, California, founded in 1998. The firm specializes in investing in transformative consumer businesses, partnering with entrepreneurs to provide capital and strategic support. Maveron focuses on industries such as healthcare, education, and technology, aiming to create a positive impact by backing companies that enhance consumer experiences and disrupt traditional markets. Among their notable transactions, Maveron invested in Lovevery, a company that produces educational toys, which can be seen as a form of interactive learning and puzzle-solving for children. Additionally, their investment in MegaBots highlights their interest in innovative entertainment, as the company is developing a giant mech fighting league, which could attract puzzle and gaming enthusiasts. Other investments include Wescover, a platform for art and design, and Virtuix, known for its Omni VR treadmill, which also engages users in interactive experiences. These transactions illustrate Maveron's commitment to supporting companies that foster creativity and engagement, aligning with the spirit of puzzle-making.

11. Founders Fund

• Website: foundersfund.com
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 44
• LinkedIn: the-founders-fund

Founders Fund is a venture capital firm based in San Francisco, California, founded in 2005. The firm specializes in investing in innovative technology companies across various sectors, including aerospace and software development. They provide funding and strategic support to startups, helping them grow and scale their operations. Notably, Founders Fund has invested in Superplastic, a designer toy brand that raised significant funding in multiple rounds, including a $20 million Series A in 2021 and a $10 million Series A in 2019. These investments highlight their interest in creative and design-oriented companies, which are relevant to the puzzles making industry. Their portfolio also includes high-impact companies like SpaceX and Palantir, showcasing their focus on transformative technologies.

12. Felicis

• Website: felicis.com
• Type: Venture Capital
• Headquarters: Menlo Park, California, United States (USA)
• Founded year: 2006
• Headcount: 11-50
• Number of deals in 2024: 38
• LinkedIn: felicis-ventures

Felicis is a venture capital firm founded in 2006, located in Menlo Park, California. The firm specializes in investing in innovative startups across various sectors, including AI and health. Felicis provides financial backing and strategic support to founders, helping them navigate growth challenges and build impactful companies. Notably, Felicis has made several investments in KiwiCo, a company that offers subscription boxes filled with hands-on projects and activities for children, which often include puzzles and educational games. Their investments in KiwiCo include a Seed Round in 2011, a Series A in 2012, and another Series A in 2015, highlighting their ongoing support for this company that is directly related to the puzzles making industry. This involvement showcases Felicis's interest in fostering creativity and learning through engaging activities, making them a relevant player in the puzzles making sector.

13. Galaxy Interactive

• Website: interactive.galaxy.com
• Type: Venture Capital
• Headquarters: New York, New York, United States (USA)
• Founded year: 2018
• Headcount: 11-50
• Number of deals in 2024: 11
• LinkedIn: galaxy-interactive-team

Galaxy Interactive is a venture capital firm based in New York, founded in 2018, that specializes in investments in the interactive space, focusing on gaming, media, and technology. They provide capital and expertise to innovative startups, helping them grow and succeed in a competitive market. Their approach emphasizes the integration of digital and physical lives through technology and social commerce. Notable transactions include leading a Series A funding round for Nekcom, a US video game developer, which raised $8 million to accelerate game development and R&D. They also participated in the Series B funding for Bad Robot Games, the video game branch of J.J. Abrams' company, which raised over $40 million. Additionally, they were involved in the funding of Tilt Five, a startup known for its AR headset for tabletop gaming, indicating their interest in innovative gaming solutions that could encompass puzzle elements.

14. 1Up Ventures

• Website: 1upfund.com
• Type: Venture Capital
• Headquarters: Kirkland, Washington, United States (USA)
• Founded year: 2019
• Headcount: 1-10
• Number of deals in 2024: 7
• LinkedIn: 1upfund

1Up Ventures is a venture capital firm based in Kirkland, Washington, founded in 2019. The firm specializes in supporting independent game developers by providing both investment and community support to help studios grow and succeed in the gaming industry. In 2022 and 2023, 1Up Ventures participated in several funding rounds for game studios, including Lost Lake Games and Sprocket Games, both of which focus on innovative game development. Their investment in The Believer Company, founded by former Riot executives, highlights their commitment to backing teams that aim to create engaging gaming experiences. Although their focus is on the gaming sector broadly, the potential for puzzle elements in the games developed by their portfolio companies makes them a relevant player in the puzzle-making space.

15. SV Angel

• Website: svangel.com
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2009
• Headcount: 1-10
• Number of deals in 2024: 44
• LinkedIn: sv-angel

SV Angel is a venture capital firm based in San Francisco, California, founded in 2009. The firm specializes in investing in early-stage and growth-stage technology companies, providing not only financial backing but also strategic advice and access to a vast network of industry experts. Among their notable investments, SV Angel participated in funding rounds for FiftyThree, a startup known for its creative applications, which could relate to puzzle-making. They also invested in Superplastic, a company that creates animated characters and collectibles, which may appeal to puzzle enthusiasts. Their investment in Aura Frames, a digital photo frame company, further demonstrates their interest in innovative consumer products. Overall, SV Angel's focus on fostering innovation and supporting creative startups aligns with the potential for involvement in the puzzles making industry.

16. Forerunner

• Website: forerunnerventures.com
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2012
• Headcount: 11-50
• Number of deals in 2024: 12
• LinkedIn: forerunner-ventures

Forerunner Ventures is a venture capital firm based in San Francisco, California, founded in 2012. The firm specializes in early-stage investments in consumer technology and innovative businesses, focusing on emerging consumer demands and technology advancements. Notably, Forerunner has invested in KiwiCo, a company that offers subscription boxes filled with hands-on projects and activities for children, including puzzles and educational kits. Their investments in KiwiCo, which raised multiple rounds of funding from 2011 to 2015, highlight their commitment to supporting businesses that foster creativity and learning through play. This aligns with their broader strategy of partnering with startups to provide capital and strategic guidance, helping them navigate growth challenges in the consumer market.

Puzzles Making Insights: Key Investors in the US

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