Games VC firm Griffin Gaming Partners has revealed that it has raised $750 million for its second fund, making it the largest games-focused venture capital fund ever. This now brings the VC firm's management assets to over $1 billion across its two funds.
Griffin’s own investments are made in social platforms, Web3 content relating to games, and more - in companies like Discord, AppLovin, and Spyke Games. The firm has also invested in Million Victories, Overwolf, and most recently Spyke games.
"The lines have blurred across gaming, media, sport, and social connectivity," said Griffin managing director Phil Sanderson.
"By seeing more than 1,300 qualified investment opportunities a year, we get a bird's eye view into the industry and what it will take to succeed in the next phase of interactive entertainment across platforms, genres and demographics."
Griffin’s goal is to provide support to gaming companies and unlock new opportunities for them. LionTree is a strategic partner.
"Griffin Gaming Partners aims to unlock value and growth for our portfolio companies as informed advisors and connectors," said Griffin managing partner Peter Levin.
Griffin and LionTree managing director Nick Tuosto added: "Our thesis is simply that, with our dedicated focus and analytical capabilities, we can make sense of enormous quantities of data and see around corners. That informs our assessment of risk-reward but also enables us to go to work for our portfolio companies through business development and aligned advice on navigating these highly dynamic market conditions.
"We’re there for our portfolio companies to help open the right doors at the right time to unlock transformational opportunities."
Wales-based games developer Tiny Rebel Games recently raised $7 million to build its upcoming mobile-based metaverse project, Petaverse Network.