A Santa Monica, CA venture capital firm, Griffin Gaming Partners, has announced its fund was oversubscribed, and now has over $1 billion in assets under management
Peter Levin, a co-founder of the firm said “Griffin Gaming Partners aims to unlock value and growth for our portfolio companies as informed advisers and connectors…
“With over $1 billion of assets under management, we have extensive relationships, honed perspectives and the creative instincts to uncover hidden gems, find synergistic partnerships and structure complex deals that impact the gaming ecosystem.”
The company said the fund is now oversubscribed by $250 million. It means 33% more money was offered as investment than was targeted. As a result, the fund is closed out to new investors.
Griffin, whose founders are gamers themselves, is investing in content, social media platforms, software infrastructure and game related Web3 firms operating in the blockchain ecosystem.
It’s already invested in Discord, Spyke Games, Overwold Neon, Tactile Games and WinZo.
But with so much capital, it’s expected the fund will continue investing in new game-tech companies, in hopes of increasing its overall portfolio value.
Phil Sanderson, another co-founder of Griffin said, “The lines have blurred across gaming, media, sports 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.”
While Griffin may be closed to new investors, there are a slew of other potentially attractive vehicles that are traded in the public markets.
UTA Acquisition Corp. went public via SPAC last year, offering 23 million shares on the market at $10 each. The company is still in the process of acquiring gaming companies.
Additionally, PowerUp Acquisitions announced its own SPAC, focused on the video game industry, and went public at $10 a share as well.
Both UTA and Powerup are actively looking for developers, publishers and game-tech companies to acquire and merge into their public entities.
Read more about Griffin’s oversubscription, HERE
Or discover video game companies that could be acquisition targets of Griffin, UTA or PowerUp, HERE