Venture Capital Firm Konvoy Launches New $150M Fund, Eyes Blockchain-Based Games

Gaming venture firm Konvoy launches new $150 million fund, part of which will be invested in cryptocurrency and blockchain-based games.

Venture capital firm Konvoy Ventures is set to pay out at least $30 million to support various cryptocurrency and blockchain-based games.

The American company has announced the launch of Konvoy Fund III, with a capital of $150 million which it plans to invest in various platforms and technologies in the global gaming industry. According to Bloomberg, up to 30% ($45 million) of the fund will be allocated to the crypto and blockchain gaming space.

Konvoy is no stranger to the world of blockchain-based cryptocurrencies and games. The company has an impressive portfolio of gaming companies and projects it has funded, including creators of Axie Infinity, Sky Mavis, Metaverse avatar platform Ready Player Me, and open-world NFT game Genopets.

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The company has invested in a total of 35 companies to date through its first two funds in North America, Europe, the Middle East, Africa and Southeast Asia.

Interest in blockchain-based games has grown over the past year, with play-to-earn and NFT games being the main industry focal points. Funding is not lacking either, with Konvoy's latest fund