Project capital company GFR Fund introduced it has raised $20 million to release its 2nd fund, GFR Fund II, with a focal point on era startups disrupting the virtual leisure sector.
The brand new fund will spend money on digital truth, augmented truth, esports, livestreaming, synthetic intelligence, and blockchain. A couple of strategic traders from Asia are backing it, and it’s an associate of main cellular gaming corporate Gree, founded in Japan. San Francisco-based GFR Fund hopes to tell apart itself with its deep connections in Silicon Valley and industry alternatives in Asian markets.
“We’re taking a look past conventional recreation builders to spend money on disruptive leisure applied sciences,” mentioned Teppei Tsutsui, managing director of GFR Fund, in a observation. “There’s a new wave of founders and creators who’re creatively combining current applied sciences to supply new, scalable reports, and that’s very thrilling. We now have observed this already in merchandise like Discord, and the marketplace is able for extra new inventions.”
A few of GFR Fund’s notable investments up to now have combined rising applied sciences in inventive techniques to supply new alternatives in leisure. As an example, Sliver.television mixed blockchain and livestreaming content material to create the following technology esports leisure platform for most sensible video games like Fortnite, League of Legends, and Counter-Strike: World Offensive.
The primary two investments beneath GFR Fund II are within the esports class. The fund invested within the Los Angeles-based ProGuides, a freemium esports platform for avid gamers to be told, attach, and play in combination.
“We revel in running with GFR Fund, and the steering they supply when navigating Eastern online game publishers is terribly treasured to our industry,” mentioned Sam Wang, CEO of ProGuides, in a observation. “GFR invested in our pre-seed level spherical, which can be used to amplify our platform to incorporate extra video games and influencers.”
And GFR Fund additionally invested in Santa Monica-based Fan.AI, an target market monetization platform for sports activities and esports. The platform will increase franchise and sponsorship revenues through making target market information actionable. GFR has invested in FanAI’s newest multi-million buck spherical that can be introduced within the subsequent two months.
“GFR Fund has a deep figuring out of gaming and esports in each Asia and U.S. markets, that mixed with their focal point on leisure makes GFR a really perfect spouse as we amplify into new verticals,” mentioned Johannes Waldstein, founder and CEO of Fan.AI. “We can use the funding to amplify our workforce and scale our industry from an esports-focused SaaS style to a platform that encompasses sports activities and leisure.”
Digital Beings at Sport Builders Convention
GFR Fund is bringing in combination business professionals from the U.S. and Asia, traders and marketers to proportion their perspectives on what Virtual Beings carry to leisure. This invite handiest match will happen on March 21 in San Francisco, all through the Sport Builders Convention.
The sooner fund, dubbed GVR Fund, used to be created in 2016, as a part of Gree VR Capital. The GVR Fund invested in 30 firms, together with VRChat, Areas, Sliver.television, Littlstar, Insidemaps, YBVR, Experiment 7, TheWaveVR, Sturfee, InsiteVR, Streem, DottyAR and Torch3D. In 2018, the fund rebranded itself as GFR Fund, because it added augmented truth and digital truth investments.