Konvoy Ventures launches $150 million fund targeting web3 gaming

Venture capital firm Konvoy Ventures announced a new $150 million fund to invest in gaming, targeting web3 and blockchain-based gaming along with other verticals. 

According to a press release, the fund will also look at gaming platforms and companies at the intersection of industries such as education and healthcare. Geographically, the fund will continue to focus on the US, Europe and Africa while expanding its reach in Asia and Latin America. 

The company says it is hoping to tap into the massive growth the gaming industry exhibited during the pandemic. Today, there are a reported three billion gamers across mobile, console and PC platforms, according to statistics in the release. 

"This new fund will not only allow us to focus on additional geographic regions but also new types of companies and technologies," said managing partner Jackson Vaughan in a statement. "Our growth and industry impact since launching Fund I has been spectacular to be a part of, and if there’s one main learning from this period, in which the world has undergone unprecedented disruption, is that there is such an enormous opportunity ahead of us."

Currently, the company counts the beleaguered play-to-earn game Axie Infinity in its portfolio, alongside games publisher and payments company Carry1st and avatar platform Ready Player Me, which recently raised $20 million and $13 million, respectively.