Griffin Gaming Partners have announced they secured a huge boost to their funding program with the netting of $750 million from backers.
According to a press release published on Monday, Griffin’s latest funding gig, Fund II, attracted several top names. These included major sovereign wealth funds, institutions, family offices, university endowments and other strategic partners.
The program was oversubscribed, the team noted, with the new funds now set to be part of a novel venture into investments in the Web 3 space. This will happen on top of the gaming VC investor’s continued focus on the global gaming market, the platform revealed in a statement.
At present, Griffin invests in multiple top firms, from seed to growth rounds. Some of those to benefit from a massive VC wallet include content providers, software infrastructure companies, and social media platforms, and Web3 companies.
Forte and Discord are two forms popular in the crypto and blockchain circles that receive backing from Griffin.
Griffin has "bird's eye view" of gaming sector
Phil Sanderson, Peter Levin and Nick Tuosto, the platform’s co-founders, said that Griffin Gaming has what it takes to positively impact the gaming sector as well as emerging technologies that intertwine a sector expected to grow nearly 250% in the next decade.
Sanderson believes the blurring of lines across various investment sectors, including gaming, sport and media means there is a need to have the right outlook from a “bird’s eye view.”
Griffin handles over “1,300 qualified investment opportunities a year,” he noted, and this gives it the perfect chance to gauge the industry.
It is this that makes the platform know what is needed for success as investors grapple with massive developments across gaming platforms, demographics and genres.
“With over $1B of AUM, we have extensive relationships, honed perspectives, and the creative instincts to uncover hidden gems, find synergistic partnerships, and structure complex deals that impact the gaming ecosystem,” said co-founder and managing director Peter Levin.