Play Ventures to launch a blockchain games investment fund

Game investment fund Play Ventures is setting up a specific blockchain game fund.

The Singapore-based company, which was set up by game veterans Henric Suuronen and Harri Manninen, is acquiring a stake in Golden Gate Venture’s spin-off LuneX Ventures.

As part of the deal LuneX’s general partner Kenrick Drijkoningen will join Play Ventures as part of the deal, reported e27.

Scaling up

LuneX currently holds investments in a number of blockchain-enabled startups and tokens but nothing directly in the game sector.

“Mobile phones revolutionised how gaming can be enjoyed by billions of people. Blockchain is now doing the same to digital rights, payments and marketplaces,” commented Suuronen and Manninen.

“We believe that the intersection of both gaming and blockchain will create the ultimate metaverse where people meet, play and trade; a true trillion-dollar opportunity.”

Play Venture recently raised $135 million for its Fund II, taking total assets under management to $175 million.