VC fund Play Ventures has raised $135 million to invest in video game startups, beginning with a $1.5 million pre-Series A investment into Indian mobile studio All-Star Games. 

The company said the Play Ventures Fund II will be used to "invest in the world's best game makers and entrepreneurs." 

Since December 2018, Play Ventures has invested in 24 video game companies across 10 different countries. The creation of Fund II brings the total assets under Play Ventures' management to $175 million across two separate funds.

"With Fund II, we continue to believe that gaming will be the most impactful and dominant form of entertainment in the 21st century. We have strong conviction that the best gaming teams can be founded and built anywhere in the world," said the company.

"We plan to continue investing in early stage game developers and gaming service startups globally, and to expand into ecosystems that we are incredibly excited about, like India and Latin America."