1Up Ventures

1Up Ventures is a venture capital fund founded in 2020 by Ed Fries, former Microsoft VP who led Xbox's game publishing business, based in Kirkland, Washington. It invests exclusively in independent game developers, operating across two fund vehicles, Fund I and Fund II. Beyond capital, 1Up builds a curated global community of indie developers, using management fees to fund shared industry data, expert sessions, and retreats. Rather than leading rounds, it acts as a "community add-on" investor, offering publishing partnerships, operational expertise, and industry connections. The fund focuses on indie game studios across mobile, console, and PC, plus developer tools and gaming infrastructure, at pre-seed and seed stages. Portfolio companies include Ready Player Me (acquired by Netflix), Torpor Games, Galaxy Grove, and The Believer Company, from a network of 67+ indie studios. Typical checks run around $500,000, backing experienced teams with shipped titles and strong creative vision.