New LA-Seattle Studio TheoryCraft is Playing the Long Games

Breanna De Vera

Breanna de Vera is dot.LA's editorial intern. She is currently a senior at the University of Southern California, studying journalism and English literature. She previously reported for the campus publications The Daily Trojan and Annenberg Media.

TheoryCraft gaming

Six gaming industry veterans have created a new game studio, Theorycraft, and closed a $37.5 million Series A round this week to help them get started.

They're looking to grow their team and develop games that are "deep, 10,000 hour games … worthy of being theory crafted," said Joe Tung, founder and chief executive, in an interview with GamesBeat. Tung was formerly the executive vice president of Riot Games' "League of Legends" franchise, where he worked on the game for seven years.


Theorycraft's team members have worked on some of the biggest titles in gaming, including "Halo," "League of Legends," "Valorant," "Overwatch" and "Team Fortress 2." The team is comprised of Chief Technical Officer Michael Evans, who was formerly distinguished engineer and technical lead for "Valorant" at Riot, and Chief Creative Officer Mike Tipul, who founded Marauder Interactive and formerly worked at Bungie. Riot veterans Moby Francke and Areeb Pirani serve as Theorycraft's art director and chief operating officer, respectively.

Eventually, Tung wants the team to expand to 30 or 40 people when the first game releases, he told GamesBeat. This is far fewer members than are on development teams at Riot and other studios, but he said, "it's really exciting that there are clear benefits to keeping the core dev team as small as possible."

The studio got its name from the term theorycrafting, which its website defines as "an honor players reserve for the deepest games in the world… when a game is worthy of endless speculation and debate about how best to play." The studio aims to make player-versus-player games that consumers continue to return to.

"We feel pretty damn fortunate," said Tung in a statement announcing the raise. "Not only to have gotten off to such a great start to the studio — but to have found a group of such like-minded partners who believe like we do that games serve fundamental human needs; who support our goal of getting the game in players' hands quickly and developing the game with them; and most importantly, who understand that we are in this for the long-term."

The round was led by Chinese internet technology and entertainment company NetEase. Theorycraft did not respond to a request for an interview, but Tung told GamesBeat that NetEase is willing to share resources and "go big … [and play] the long game." NetEase's resources will help supercharge their ambitions of making long, complex games that can take 10,000 hours to complete. Investors NEA, BitKraft Ventures, Griffin Gaming Partners and SISU Game Ventures also participated in the round.

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Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage
Courtesy of Greater Good Health

The pandemic highlighted what’s been a growing trend for years: Medical students are prioritizing high-paying specialty fields over primary care, leading to a shortage of primary care doctors who take care of a patient’s day-to-day health concerns. These physicians are a cornerstone of preventative health care, which when addressed can lower health care costs for patients, insurers and the government. But there’s a massive shortage of doctors all over the country, and the pipeline for primary care physicians is even weaker.

One local startup is offering a possible answer to this supply squeeze: nurse practitioners.

On Wednesday, Manhattan Beach-based Greater Good Health unveiled a $10 million Series A funding round led by LRVHealth, which adds to the startup’s $3 million seed round last year. The company employs nurse practitioners and pairs them with doctor’s offices and medical clinics; this allows nurse practitioners to take on patients who would otherwise have to wait weeks, or even months, to see a doctor.

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Plus Capital Partner Amanda Groves on Celebrity Equity Investments

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
PLUS Capital​’s Amanda Groves.
Courtesy of Amanda Groves.

On this episode of the L.A. Venture podcast, Amanda Groves talks about how PLUS Capital advises celebrity investors and why more high-profile individuals are choosing to invest instead of endorse.

As a partner at PLUS, Groves works with over 70 artists and athletes, helping to guide their investment strategies. PLUS advises their talent roster to combine their financial capital with their social capital and focus on five investment areas: the future of work, future of education, health and wellness, the conscious consumer and sustainability.

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Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays

David Shultz

David Shultz is a freelance writer who lives in Santa Barbara, California. His writing has appeared in The Atlantic, Outside and Nautilus, among other publications.

Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays
Courtesy of Rivian.

Rivian’s stock lost 7% yesterday on the back of news that the company could face delays in fulfilling Amazon’s order for a fleet of electric delivery vans due to legal issues with a supplier. The electric vehicle maker is suing Commercial Vehicle Group (CVG) over a pricing dispute related to the seats that the supplier promised, according to the Wall Street Journal.

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