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Singularity 6 Raised $16.5 Million for Its First Game in 2019

Singularity 6 raised a reported $16.5 million in 2019 for its first game, an unnamed multiplayer fantasy world that later became Palia.
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Singularity 6 raised a reported $16.5 million in 2019 to develop its first game, a multiplayer, simulation-oriented fantasy world centered on virtual community. Andreessen Horowitz led the financing, with London Venture Partners and FunPlus Venture participating, according to PC Games Insider’s contemporaneous report. The game was not named in that announcement; it later became Palia.

What Singularity 6 announced in 2019

On August 14, 2019, PC Games Insider reported that Los Angeles-based Singularity 6 had raised $16.5 million for its first intellectual property. The report relayed VentureBeat’s funding coverage and named Andreessen Horowitz as lead investor, with London Venture Partners and FunPlus Venture also taking part.

The report said Chen, an Andreessen Horowitz partner, would join Singularity 6’s board. It did not disclose the financing instrument, valuation, formal round designation, or how much each investor contributed, so the announcement should not be described as a confirmed seed or Series A round.

Who founded the studio?

Singularity 6 was founded by Aidan Karabaich and Anthony Leung, whom the 2019 report described as former Riot Games developers. Leung was identified at the time as the company’s CEO and co-founder.

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Leung framed the studio’s ambition around the social value of games: “We started Singularity 6 because we knew that games are significant on a personal level, they are more than mere entertainment, but rather a path to community, friendships and a real sense of belonging.”

What kind of game was the funding meant to support?

Singularity 6 described its first project as a multiplayer game combining classic simulation design and virtual community building in a high-fantasy world. The report did not provide specific game details, and it did not name the project Palia. London Venture Partners general partner David Gardner praised the studio’s approach to “creating compelling virtual worlds and connected online communities.”

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The project later became Palia, a free-to-play fantasy life-sim adventure. The distinction matters: the 2019 announcement establishes the original concept, while the title and concrete product details came later.

How the project and studio developed

Date Development
August 14, 2019 PC Games Insider reported Singularity 6’s $16.5 million raise and its broad multiplayer fantasy-community concept.
February 16, 2022 Singularity 6 said Palia would have no subscription or upfront purchase, with monetization based on cosmetic content rather than core gameplay. This describes the company’s published policy on that date.
July 2, 2024 Singularity 6 announced that it was joining Daybreak Game Company, a subsidiary of Enad Global 7 AB. It said the studio would continue operating independently under Leung and Karabaich, with Daybreak support as development of Palia continued.
April 21, 2026 Daybreak announced that Palia had surpassed 10 million players globally. That is a dated milestone reported by Daybreak, not a live player count.

As of October 8, 2026, Palia’s official site describes the game as free to play and lists Steam, Nintendo Switch, PlayStation 5, and Xbox Series X|S. The site also listed a Nintendo Switch 2 Edition planned for the 2026 holiday period; that timing is a future-facing announcement and may change.

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What the $16.5 million figure does—and does not—tell us

The reported amount shows the scale of the financing Singularity 6 secured to build its first IP. The available announcement does not establish the company’s valuation, the investors’ individual stakes, or the exact terms of the deal. It also does not establish that the investors funded a game already publicly identified as Palia: in 2019, the project remained unnamed and its details undisclosed.

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