Immutable, Polygon Labs and King River Capital have teamed up to raise $100 million in a new gaming fund called the Inevitable Games Fund (IGF).

The fund will invest in young gaming startups working in the web3 area. King River will manage the investment process, while Immutable and Polygon Labs will provide blockchain expertise and deal sourcing.

The fund has already closed its first close at $30 million, with a target size of $100 million. The fund has received an anchor commitment from Alpha Wave Ventures and other investors such as Merit Circle and the founders of Immutable.

According to an Immutable representative, the creation of the fund became relevant this year.