The pitch deck is a familiar artifact, but the person across the table is a different breed. They don't talk about TAMs or LTVs, at least not first. They talk about level design, about player psychology, about the specific texture of a crafting system. They are a game maker, and Transcend Fund, a venture firm founded in 2020, is writing them a check. The firm's thesis is not about backing the next hit title, but about backing the creative engine that can build many of them [Transcend Fund].
A veteran team on a global stage
Transcend runs distributed from day one. Leadership spans hubs: Managing Director Andrew Sheppard in Los Angeles, Brett Krause in Zurich, Founding General Partner Shanti Bergel, 30-year veteran, in London [Perplexity Sonar Pro] [Transcend Fund]. Built by game builders, not financiers [Crunchbase]. Structure fits creative proximity.
The capital behind the creativity
Two funds total ~$110 million. $50 million debut in 2020, nearly $60 million in 2023 [StartupIntros, GamesBeat]. Third open since January 2025 [Perplexity Sonar Pro]. Targets ambitious founders in games, esports, entertainment [Perplexity Sonar Pro].
| Role | Name | Location | Notable Background |
|---|---|---|---|
| Founding General Partner | Shanti Bergel | London, UK | 30-year game industry veteran [Transcend Fund] |
| Managing Director | Andrew Sheppard | Los Angeles, US | - |
| Managing Director | Brett Krause | Zurich, Switzerland | - |
The portfolio building momentum
PitchBook tracks 43 investments and 6 exits [PitchBook]. Details sparse publicly. Forbes covered Gardens raising $31 million [Author note, Apr 2026], XCOM vets' life sim studio [Author note, Apr 2026].
Approach favors platforms over content.
Risks remain in proof.
- Selection skill. Track record emerging; seed bets unconventional.
- LP test. Raises show confidence; returns decide.
- Specialist focus. Ties to gaming cycles.
Transcend answers: fund architects of player-owned worlds.
Sources
- [Transcend Fund] Transcend Fund - Venture capital for games and digital entertainment | https://www.transcend.fund
- [StartupIntros] Transcend Fund: Funding, Team & Investors | https://startupintros.com/orgs/transcend-fund
- [Crunchbase] Transcend Fund - Crunchbase Company Profile & Funding | https://www.crunchbase.com/organization/transcend-fund
- [Perplexity Sonar Pro] Transcend Fund company briefing | (Source from Perplexity Sonar Pro)
- [GamesBeat] Transcend Fund raises nearly $60M for second seed fund to invest in games and entertainment | https://gamesbeat.com/transcend-fund-raises-nearly-60m-for-second-seed-fund-to-invest-in-games-and-entertainment/
- [Transcend Fund] Welcome, Laguna Games: Innovating The Future Of Digital Economies | https://www.transcend.fund/post/welcome-laguna
- [PitchBook] Transcend Fund investment portfolio | https://pitchbook.com/profiles/investor/434316-25