Solana Ventures, the strategic investment arm of Solana Labs, announced Tuesday a new blockchain gaming fund in alliance with blockchain gaming startup Forte and VC firm Griffin Gaming Partners. The companies plan to invest $150 million to back new decentralized gaming startups.
The new fund will invest in startups developing games that utilize the Solana blockchain but will be backed by US Dollars instead of SOL tokens. The sizable investment vehicle will also invest in equities and native tokens of the targeted startups.
“Gaming and interactive media would not be a cornerstone of blockchain today if it weren’t for the many technical developments the community has accomplished in the past decade,” Pierre Planche, partner at Griffin Gaming Partners, said in the announcement. “Solana is a premier example, having helped pave the way with scalability and [user experience] fit to match these demanding experiences.”
Investing partners Forte and Griffin Gaming Partners are one of the top companies in the gaming sector. Forte offers regulatory compliance and reluctant infrastructure for gaming companies, raising roughly $725 million in its recent funding round.
Meanwhile, Griffin Gaming Partners is a gaming-centric VC firm and one of the lead investors in Forte. The company has invested more than $400 million in gaming-related companies.
This is the second blockchain game fund announced by Solana Ventures after unveiling a $100 million fund in November in partnership with FTX and Lightspeed.
