Griffin Gaming Partners has announced the creation of its second gaming-related fund, which will invest in seed and growth rounds of firms developing blockchain-based or traditional games. The fund, which raised $750 million after being oversubscribed, is one of the largest dedicated to interactive entertainment ventures.
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:
“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.”
With this investment, the firm now has more than $1 billion in assets under management. Which, including the $235 million raised in November from its first fund.
While statistics imply that interest in metaverse and NFTs has fallen recently, businesses 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.
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