Latest fund size
$50M
Announced
November 9, 2026
Global HQ
United States
Members only
Check size
$2M-$15M
Members only
Stage focus
Seed, Series A, Growth
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Regions of investment
North America, Asia
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DENMU is a San Francisco-based investment firm founded in 2025 by Ryan You, Michael Fan, and Devin Maa to finance and support video game developers. The firm takes an auteur-first approach, backing creators and studios with strong creative identities across indie, AA, and AAA games on all platforms.
Ryan You, Co-Founder, General Partner and CEO
Michael Fan, Co-Founder, General Partner and Creative Director
Devin Maa, Co-Founder and Investment Partner
Joe Brown, Publishing Partner
Members only
Names, roles, emails and LinkedIn profiles for the team, plus the fund's website.
DENMU invests in video game developers and publishers across indie, double-A, and triple-A titles, spanning PC, console, and mobile platforms and all business models, including premium and free-to-play. The firm evaluates games on creative identity rather than genre popularity or comparable sales charts, and says it does not consider any genre commercially dead.
DENMU aims to build long-term relationships with the creators and teams it backs across multiple projects rather than funding single releases, drawing on team experience across North America, Europe, China, and Japan to help Western games reach Asian audiences and Asian developers grow globally.
Members only
What the fund looks for in founders and which sectors it backs.
DENMU closed its debut fund above its initial $50 million target, the firm announced on November 5, 2026, with the exact final amount undisclosed.
The fund was oversubscribed, with limited partners including gaming strategics, founders, family offices, and foundations.
DENMU plans to use the capital to finance 10 to 20 additional game projects through 2028, providing development, marketing, publishing, and growth capital structured around each game's and studio's specific needs, including project- and slate-level financing.
Members only
Fund size, LPs and track record.
Leadership
Investment Strategy
DENMU pairs capital with publishing and production expertise, helping developers reach global audiences and navigate both Asian and Western markets. The firm is a strategic partner of PlayStation's China Hero Project, which supports Chinese game developers in bringing titles to PlayStation platforms. Since its 2025 founding, the firm says it has reviewed more than 400 investment opportunities.
Notable Investments
Members only
Leadership, investment strategy, notable investments and exits.
