Papergames sets up $15M venture fund to back AI and game tech
What's the deal? PapergamesDealroom has a profile for this one. Try Dealroom → has established a venture capital fund, the Nanjing Borui Digital Intelligence No.1 Venture Capital Partnership EnterpriseDealroom has a profile for this one. Try Dealroom →, sized at US$13.9M (roughly $15 million at current exchange rates). Shanghai Papergames TechnologyDealroom has a profile for this one. Try Dealroom → entered the vehicle on September 16 as its dominant backer, subscribing US$13.9M — about 99.96% of the total. Guangzhou Borui Venture CapitalDealroom has a profile for this one. Try Dealroom → acts as the executing partner.
Why now? The fund arrives as the Chinese game studio pushes deeper into AI. Its open-world title "Infinity Nikki" is integrating Neural Super Sampling with Arm to bring neural-network rendering to mobile.
What's the endgame? The structure gives Papergames a fixed, independent channel for its investment activity. It provides the bulk of the capital, while professional investors handle operations.
Papergames is no stranger to dealmaking. It has previously backed Moliang TechnologyDealroom has a profile for this one. Try Dealroom →, developer of "Rumor Detective"; X.D. NetworkDealroom has a profile for this one. Try Dealroom →; YuelongyinDealroom has a profile for this one. Try Dealroom →, developer of "Huo Huan"; and interactive film company Huying TechnologyDealroom has a profile for this one. Try Dealroom →, spanning game R&D, interactive content, comics, and IP derivatives. The shift here is one of role: from a participant in outside funds to the core capital provider of its own vehicle.
The AI signals extend beyond games. Papergames has posted recruitment for "AI companion products", and in late August its Shanghai entity broadened its business scope to include AI software development and AI hardware sales.
The signal: AI and investment are converging across the game industry, as studios turn to external teams for capabilities they cannot build in-house. This AI wave spans large models, agents, and game-specific tools like neural graphics and 3D content generation — each tied to different specialist companies. For Papergames, a dedicated fund is a more realistic way to keep expanding as its product and technology lines diversify.
Read more: eu.36kr.com
Image credit: Generated with Gemini
