According to Griffin Gaming Partners, Griffin has closed a new fund of $750 million. They have raised nine-figure funding for the second time, focusing on the gaming and esports industry.
Griffin received funding from significant institutions, university endowments, family offices, sovereign wealth funds, and gaming industry strategic partners, according to Tuosto.
Griffin Gaming receives total funding of over $1 billion
Sanderson, Tuosto, and Peter Levin founded Griffin Gaming in 2019, with LionTree, a boutique M&A company where Tuosto works as managing director, as a strategic partner.
The fund’s definition of “gaming” is broad, according to founding partner Nick Tuosto, and it includes content creators, platforms that support key aspects of gaming such as communications and social aspects, and infrastructure tools that help developers create and monetize games, particularly new blockchain and Web3-related titles.
Griffin previously raised $235 million, and distributed it to 13 companies and provided seed-round support for eight other companies. Moreover, with the recent funding, Griffin Gaming total funding is over $1 billion of gaming-related assets.
Griffin invests in game content, software infrastructure, and social platforms, as well as gaming-related Web 3 companies, from seed through growth stages. Forte, a blockchain gaming platform, and Discord, a messaging tool popular in crypto circles, are among the portfolio businesses.
One of the co-founders of Griffin, Peter Y, said “We’re not a spray-and-pray fund. We’re not going to have 70 companies in the portfolio at any given time. We’re going to continue to take that disciplined approach.”
Phil Sanderson, co-founder of Griffin gaming said that using data, the company can predict whether a company will be successful.
Further, he said, “The lines have blurred across gaming, media, sport, and social connectivity. 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.”
Griffin Gaming has collected massive funding in the past couple of years. Their investments include a large number of popular companies. However, it will be interesting to see how the company will utilize the current funding.