Santa Monica-based venture capital firm Griffin Gaming Partners has raised $235M USD towards its gaming and technology-focused fund. The firm did not disclose any names of the limited partners it raised the investment from.
Griffin Gaming Partners has a broad portfolio of gaming and technology companies, including messaging and VoIP platform Discord and recently founded real-time strategy game developer Frost Giant Studios. The firm was established last year by Nerdist Industries co-founder and former Lionsgate president of interactive ventures, games, and digital strategy Peter Levin, investment bank LionTree managing director Nick Tuosto, and venture capitalist Phil Sanderson.
The VC firm plans to invest about half of its funds in gaming platform and infrastructure projects while focusing on content or game studios with the remaining funds. Griffin Gaming Partners is open to investing in a range of financing rounds from seed rounds starting at $1M up to later-stage financing rounds at $15M to $20M. In an interview with Venture Beat, general partner Peter Levin said that the fund will likely invest half of its funds in North American deals while using the other half for international deals. Levin added that his firm is unlikely to invest in AAA games as their budget needs usually exceed Griffin Gaming Partners’ available funds per deal.