What The Rabbit Hole does

The Rabbit Hole is a video game incubator and accelerator based in Santa Fe, Argentina, founded in 2021 and created by Killabunnies, a Santa Fe-based game studio with over a decade of production and commercialization experience. The company is led by co-founders Mariano Obeid (also CEO of Killabunnies and president of ADVA, the Argentine Video Game Developers Association) and Javier Brunet (CFO of Killabunnies), supported by a small mentor network spanning Technical, Art, Project Management, Production, and Game Design disciplines. Its operational footprint is small — two co-founders plus approximately five named mentors — and it operates with the support of ecosystem partners including ADVA and the UNRaf Video Game Observatory.

The company's core offering comprises three interconnected products: a 6-month Incubation Program (Programa de Incubación) for early-stage studios seeking to professionalize processes and reach a Minimum Viable Product suitable for investor presentation; an Acceleration Program (Programa de Aceleración) for more advanced products and teams requiring capital injection and commercial support; and the TRH Investment Fund (Fondo de Inversión TRH), a dedicated Fideicomiso (financial trust) that raises and administers venture capital to finance projects in the regional video game industry. Programs are accessed via periodic open calls, with a second cohort launched in June 2022 expanding scope to include Digital Art, VR, AR, UX, Software, Hardware, and Digital Services alongside pure video games, and attracting international applications from Spain, Mexico, the USA, Bolivia, Peru, and Chile.

The revenue model is structured around equity and revenue participation in supported projects (e.g., Ophelia's Chapter received direct capital under the Acceleration Program) and management of the Fideicomiso, rather than disclosed fee-based services or pricing tiers. The Rabbit Hole has no proprietary technology platform; its value is delivered through structured mentorship, advisory, networking, and direct investment. Go-to-market relies on digital content (website news blog, Instagram), event participation (EVA, Big Festival São Paulo), word-of-mouth within the Argentine gaming community, and the institutional reach of ADVA and allied government trade-promotion channels.

Name

The Rabbit Hole

Legal name

The Rabbit Hole

Website

https://therabbithole.games

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

The Rabbit Hole is an Argentine video game incubator and accelerator based in Santa Fe, founded in 2021 by Killabunnies studio, offering a 6-month incubation program, an acceleration program with capital, and the TRH Investment Fund for early-stage studios and developers in Latin America.

Ownership category

akta.pro rank

Product category

Video Game Incubator and Accelerator Services

SIC

Finance Services (6199)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

Keywords

• Video game incubation
• Game studio acceleration
• Venture capital funding
• Game developer mentorship
• Digital entertainment services

Headquarters

HQ city

San Jeronimo

HQ country

Argentina

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Fund (Fondo TRH): Operates within a specific financial trust (Fideicomiso) that raises and administers venture capital to support the video game industry in the region. Invests in high-potential projects in exchange for equity or revenue participation. In its first year, worked with 5 video game projects (Laidaxai, Niñas de Ayohúma, CrESI, Ophelia's Chapter, Undercage), providing mentorship, some financial injection for acceleration-stage projects (e.g., Ophelia's Chapter), and commercial/advisory support.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

The Rabbit Hole is a video game incubator and accelerator that runs a 6-month structured Incubation Program for early-stage studios, an Acceleration Program for advanced teams requiring capital and commercial support, and operates the TRH Investment Fund, a venture-capital financial trust that raises and deploys risk capital to finance video game and digital entertainment projects in Argentina and Latin America. The company mentors and invests in game studios, providing access to a specialized network, investor-ready documentation, and market entry assistance.

Product overview

The Rabbit Hole operates as a video game incubator and accelerator based in Santa Fe, Argentina, founded by the Killabunnies studio. Its core offering comprises three interconnected services: the Incubation Program (a 6-month mentorship program for early-stage teams across Videojuegos, Arte Digital, VR, AR, UX, Software, Hardware, and Digital Services), the Acceleration Program (for more advanced products and teams seeking capital and commercial support), and the TRH Investment Fund (a venture-capital trust that finances incubated and accelerated projects). These programs are supported by a mentor network spanning Technical, Art, Project Management, Production, and Game Design disciplines. The company drives the Argentine video game ecosystem through these programs, its own investment fund, and annual participation in industry events such as EVA.

Differentiator

Problem solved

Functional benefit

Brands

• Fondo de Inversión TRH: Investment fund operating within the incubator that attracts and manages venture capital for the video game industry in the Latin American region.

Products and services

• Programa de Incubación (Incubation Program) A 6-month structured program that mentors and guides early-stage development teams across Videojuegos, Arte Digital, Realidad Virtual (VR), Realidad Aumentada (AR), Experiencia de Usuario (UX), Software, Hardware, and Servicios Digitales to professionalize their processes, organize workflows, and produce a Minimum Viable Product (MVP) suitable for investor presentations.
• Programa de Aceleración (Acceleration Program) A program for products and advanced teams with defined structures and experienced members that require capital injection to scale operations, explore new technologies, or access commercial assistance and strategic networks.
• Fondo de Inversión TRH (TRH Investment Fund) A specialized venture-capital trust fund (Fideicomiso) that raises and manages risk capital to finance and impulse the video game industry in the region, providing financial resources to incubated and accelerated projects in exchange for equity or revenue participation.

Quantifiable outcome

• 5 video game projects supported in first year, ranging from early incubation to acceleration-stage funding
• +1 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• KillabunniescoreStrategic or Co-development PartnerKillabunnies is the founding studio behind The Rabbit Hole. With over 10 years of experience in video game production and commercialization, Killabunnies provides the operational backbone, industry expertise, and co-founders (Mariano Obeid as CEO) to the incubator. The incubator functions within Killabunnies' broader ecosystem and is located at the same studio in Santa Fe.
• ADVA (Asociación de Desarrolladores de Videojuegos Argentinos)coreStrategic or Co-development PartnerADVA is the Argentine Video Game Developers Association, a non-profit organization. Mariano Obeid (co-founder of The Rabbit Hole) serves as president of ADVA. The Rabbit Hole operates in coordination with ADVA's programs (including MPVP - Mi Primer Videojuego Publicado) and both collaborate on events such as EVA (20th edition at CCK September 2022).
• IC-Cube (Image Campus Incubator)minorOthersA peer video game incubator run by Image Campus in Argentina. Not a direct partner of The Rabbit Hole but a fellow player in the Argentine incubator ecosystem. Offers a mentorship program for students and recent graduates in game development, animation, VR, AR, and VFX.
• UNRaf (Universidad Nacional de Rafaela) - Video Game ObservatorycoreStrategic or Co-development PartnerThe Rabbit Hole has collaborated with the Video Game Observatory at UNRaf (founded 2014) for industry data and benchmarking. The incubator uses UNRaf's annual industry reports and data to guide its programs and understand market needs. UNRaf also offers the only public university degree in Video Game Production in Argentina.
• Argentine Ministry of Foreign Affairs (Cancillería Argentina)minorOthersCancillería (Ministry of Foreign Affairs) organized the participation of 25 Argentine video game companies at Big Festival in São Paulo, Brazil, coordinated with ADVA. This included official networking events and commercial promotion support, benefiting the ecosystem in which The Rabbit Hole operates.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Makers Fund: Global gaming-focused venture fund investing in interactive entertainment studios across stages. Comparable function to The Rabbit Hole's Fondo TRH as a dedicated capital pool for game studios, though at significantly larger fund size.
• London Venture Partners (LVP): Seed-stage investor in interactive entertainment with a venture/incubation orientation. Comparable as a thesis-aligned gaming investor that combines capital with industry network support, similar to The Rabbit Hole's mentor-driven model.
• Indie Fund: Decentralized funding collective providing direct investment to independent game developers. Comparable as a sector-specific capital source for early-stage indie studios, similar to Fondo TRH's role for Argentine projects.
• IC-Cube (Image Campus): Run by Image Campus in Argentina, IC-Cube is explicitly named in the company data as a peer ecosystem player offering a mentorship program for game development, animation, VR, AR, and VFX — directly overlapping The Rabbit Hole's mandate within the same Argentine market.
• Galaxy Interactive: Investment and incubation platform focused on gaming and interactive entertainment. Directly comparable as a fund-plus-operating-support vehicle targeting early-stage studios in the same vertical.
• BITKRAFT Ventures: Global gaming-focused VC and accelerator program that combines capital with operating support for interactive-entertainment studios. Comparable to The Rabbit Hole's blended incubation+fund model, though at much larger scale and global scope.
• Brinc: Operates vertical-specific accelerators worldwide, including gaming/digital entertainment cohorts. Comparable as a structured accelerator model that delivers mentorship, capital, and demo-day access to early-stage studios.
• GameBC: Canadian gaming accelerator providing mentorship, funding, and industry access to game studios. Operates a comparable accelerator-plus-fund structure for early-stage developers.

Regional players

• NXTP Labs: Pan-LatAm early-stage venture accelerator. While not game-specific, it operates in the same regional (Argentina/LatAm) early-stage ecosystem and competes for the same founder talent pool.
• Wayra (Telefónica): Telefónica's global corporate accelerator with strong LatAm presence. Adjacent peer in the Argentine/LatAm startup-acceleration market with broader tech focus but overlapping founder and mentor pool.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/therabbitholegames
• LinkedInlinkedin.com/company/therabbitholegames

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Rabbit Hole