September 27, 2022

Griffin Raises $750M in Gaming and Web 3.0 Focused Fund

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Venture capital firm Griffin Gaming Partners has raised $750 million in a fund focused on the gaming industry and the Web 3.0 segment.

Co-founder Nick Tuosto told CoinDesk that Fund II has already invested in 16 decentralized internet startups. They accounted for about half of the capital.

Tuosto said the fund was backed by institutional investors, university foundations, family offices, retirement plans and strategic partners from the gaming industry.

Griffin was founded in 2019 by Nick Tuosto, Phil Sanders and Peter Levin. The firm invests in early-stage startups in the areas of gaming content, social platforms and Web 3.0. Portfolio companies include the gaming blockchain platform Forte and the popular messenger Discord in the crypto community.

Recall that investments in infrastructure and blockchain games of the GameFi segment reached $1 billion in January.

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