Griffin Gaming Partners has launched its second gaming-related fund. According to reports, the fund was oversubscribed and managed to raise $750million to help support various gaming projects, such as Web3-based or blockchain ones. Griffin Gaming Partners currently has over $1 billion in AUM.
Griffin Gaming Partners raises sizable gaming-related fund
Griffin Gaming Partners announces the launch its second gaming-related fund. This will target investing in seed or growth rounds for companies that are building traditional, blockchain-powered, and/or hybrid games. It is believed to have raised $750 million and was oversubscribed.
According to the company, gaming is becoming a mainstream form of entertainment. It surpasses movies, music, books, and other forms. According to reports, this sector will grow 248% in the coming decade. Griffin Gaming Partners is expected to invest aggressively in this sector because of the opportunity.
Peter Levin is one of its founding partners. He clarified the manner in which the funds will be spent. Forbes was interviewed by Levin, who stated that:
We’re not a spray-and-pray fund. We’re not going to have 70 companies in the portfolio at any given time. We’re going to continue to take that disciplined approach.
The firm now holds more than $1B in assets. This includes its original fund which raised $235M in November.
Web3 Growth and Meta3 Growth
Even though numbers indicate that there has been a decline in interest for NFTs and metaverse recently, the companies continue to place huge bets on this technology. It can also be applied to gaming. Funds have been invested by the company in Alethea AI which allows users to make smart NFTs and Chill Chat.
Griffin Gaming Partners invests in other companies that do not fall under the gaming category, but are located at intersections of gaming and technology. The firm is a shareholder in Discord (a messaging service that’s not gaming but gaming-adjacent), and has made investments.
Nick Tuosto is the managing partner and says that these investments are complementary to Griffin Gaming Partners’ ability to expand its gaming reach. He added:
Our thesis states that we have the ability to see beyond corners and make sense out of vast amounts of data by focusing on our analytical skills and putting in a lot of effort.
Griffin Gaming Partners has launched a new Web3 fund and a gaming-related fund. What are your thoughts? Please leave your comments below.
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