Griffin Gaming closes II Fund at $750 million

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Griffin Gaming Partners, a Santa Monica, California-based venture capital firm, specializing in gaming-related investments, has announced the launch of its second gaming-related fundraising at $750 million to support gaming initiatives, including Web3-based and blockchain endeavors.

India listed Nazara has committed an amount not exceeding USD 4 Million (approx. Rs30 crore) to this Fund. With the two funds, the firm said it has now amassed more than $1 billion in assets under management.

The gaming focussed firm was founded by Peter Levin, Phil Sanderson, and Nick Tuosto who are passionate gamers, with LionTree as a strategic partner to the Fund. The Gaming market is now larger than movies, music, and books combined, and is the fastest-growing consumer trend globally, with 248% expected growth over the next decade.

“We’re not a spray-and-pray fund,” said Griffin founding partner Peter Y. Levin according to Forbes. “We’re not going to have 70 companies in the portfolio at any given time. We’re going to continue to take a disciplined approach.”

In July 2021, Indian social gaming company WinZO raised $65 mn in Griffin Gaming’s debut bet in India. Other portfolio companies include Forte, Overwolf, Discord, AppLovin, Tactile, Spyke Games, Neon, Hadi, DeHorizon, SuperTeam, and Palm.

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“The lines have blurred across gaming, media, sport, and social connectivity,” said Phil Sanderson, Managing Director of Griffin Gaming Partners in a media release. “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.”