Griffin Gaming Closes $750M Venture Fund

Griffin Gaming Partners has closed a $750 million venture fund to invest in the gaming space, adding LionTree as a strategic partner to the fund.

The company, which launched its first fund in 2020 with $235 million, now has more than $1 billion in assets under management. 

Amid investments in social platforms, Web3, and content, founder Peter Levin told The Hollywood Reporter that the additional fund will allow for “more investing and investing with larger check sizes and a variety of different stages.”

The list of Griffin-backed companies continues to grow, with founder Phil Sanderson claiming the company sees “more than 1,300 qualified investment opportunities a year.”

• Digital distribution platform Discord
• Mobile technology company AppLovin Corp.
• NFT platform Forte
• Software platform Overwolf, which helps developers create extensions for games

“There’s an opportunity for more gaming-focused venture capitalists,” said Sanderson, also an investment banker at LionTree. 

Gaming’s Growth

Griffin says the gaming market is now “larger than movies, music, and books combined,” with data from Newzoo expecting the market to grow 248% in the next 10 years. Newzoo found that nearly one-third of the world’s population play games for almost an hour each day.

The global gaming market’s annual consumer spending is estimated to reach $256 billion in 2025.