California-based gaming venture fund Griffin Gaming Partners have raised $235 million from various funds to invest in gaming ventures of all scales worldwide.
The firm came into existence two years ago, led by Dr. Philip Sanderson, Peter Levin & Nick Tuosto. The fund already owns a stake in renowned communications app Discord and has invested in dozens of esports, gaming, media, and technology-driven company in the past nine months, which are spread across continents.
Peter Levin brings a treasure trove of experience to the firm, other than being the chairman of Immortals Gaming Club which houses some of the juggernauts of the esports industry in MIBR and OpTic Gaming, Levin served as president of the digital strategy at his previous firm LionsGate.
“We feel that gaming is so very global and what better way to assist our portfolio companies than to have a global investor base,” Levin said in an interview with GamesBeat.
Griffin Gaming Partners new fund to incubate worldwide firms
GGP announced the raise and their intent to diversify their portfolio across the globe of different scales. The fund will be distinctive from seed to later series stage rounds.
Approximately half of the raised capital will support companies based in North America and the other half in international firms. Investments originating from the fund will range from USD$1m (£760,000) contributions to seed rounds to approximately USD$20m (£15m) in later-stage rounds.
In testimony about the company’s intent and expertise, Microsoft’s Corporate VP of Gaming Ecosystem, Sarah Bond said “the Griffin team has a unique vision for where our industry is headed. I trust their judgment and ability to add real value.“
In a statement, Levin commented, “Consumer behavior and technological advances have created unprecedented engagement and monetization opportunities. GGP recognizes these opportunities and remains laser-focused on investing in companies that are serving the three billion gamers worldwide.”