According to Odaily, regulatory documents reveal that Griffin Gaming Partners intends to raise $500 million for its third flagship fund, a 33% decrease from its second fund. In 2022, Griffin raised $750 million for its second flagship fund when venture capital enthusiasm for Web3 and crypto games was at its peak.
Griffin Gaming Partners led a $185 million Series A funding round for Web3 game developer Forte in 2021 and a $46 million Series A funding round for blockchain game studio N3twork Studios in 2022. The firm's decision to raise a smaller fund this time around may reflect changes in the investment landscape or a strategic shift in the company's approach. However, the specific reasons behind the decrease in the fund's size have not been disclosed.
Despite the reduction in the fund's size, Griffin Gaming Partners continues to be a significant player in the gaming investment sector, particularly in the emerging fields of Web3 and crypto gaming. The firm's previous investments in these areas demonstrate its commitment to supporting innovative gaming technologies and platforms. The outcome of this third fund will be closely watched by industry observers and could potentially influence future investment trends in the gaming sector.