Web3 gaming venture capital fund Griffin Gaming Partners announces $500 million target for third flagship fund

Griffin Gaming Partners, a Web3 game investment fund, announced that the fundraising target for its third flagship fund is $500 million, which is about 33% smaller than its previous fund. The fund has not responded to requests for comment on why it has lowered its fundraising target. Griffin Gaming Partners raised $750 million for its second flagship fund in 2022, when venture capital enthusiasm for Web3 and crypto games reached its peak, but the subsequent bankruptcy of FTX caused the market to slump. As of now, Griffin Gaming Partners has invested in multiple Web3 game studios and infrastructure companies, including game content creator platform Nexus, Web3 game launch platform HyperPlay, Web3 game studio Gallium Studios, blockchain game developer UnCaged Studios, blockchain game studio SuperTeam Games, blockchain game company N3twork Studios, and also led Forte's $180 million Series A financing.