Griffin Gaming Partners Launches $750 Million Gaming and Web3 Fund

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Griffin Gaming Partners Launches $750 Million Gaming and Web3 Fund – Griffin Gaming Partners, a Venture capital firm that focuses on gaming-related investments, has announced the formation of its second gaming-related fund.

The fund, which was reportedly oversubscribed, raised $750 million to finance gaming innovations such as Web3-based and blockchain projects. Griffin Gaming Partners now has an AUM of over $1 billion.

According to the firm’s statistics, gaming has surpassed movies, music, and books as the most popular source of entertainment. According to projections, the sector would rise by 248 percent over the next decade. Griffin Gaming Partners is reported to be motivated by this potential to engage aggressively in the sector.

One of the firm’s founding partners, Peter Levin, confirmed the method the cash will be utilized. He stated in an interview with Forbes:

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“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.”

Also Read: South African Regulator Explains Why It Has Been Targeting Global Crypto Exchanges

With this investment, the firm now has more than $1 billion in assets under management, including the $235 million raised in November from its first fund.

While numbers imply that interest in metaverse and NFTs has fallen recently, companies are still banking big on the future of this blockchain-based technology that can be used in gaming.

Alethea AI, a protocol that allows users to design smart NFTs, and Chill Chat, a Solana-based metaverse game platform, are two firms in which the firm has already invested.

Griffin Gaming Partners, on the other hand, invests in firms that aren’t classed as gaming but are at the crossroads of other technology and gaming. This is why the corporation has already invested in efforts such as Discord, a messaging service that is not a game company but is related to gaming.

Also Read: Binance Launches Bitfinity, a Payments Company Targeting the Web3 Economy

Griffin Gaming Partners, according to Nick Tuosto, managing partner, will be able to expand its gaming reach with these complimentary investments. He went on to say:

“Our concept is that, with our focused attention and analytical skills, we can make sense of massive amounts of data and see around corners.”

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