Konvoy Ventures, which continues its investments in the crypto field and is known for its contributions to the investment tours of companies such as Ready Player Me and Sipher, has announced a new fund of 150 million dollars. The fund called Konvoy Fund III, under the management of Konvoy Ventures reached the $270 million band with the $150 million collected. With this amount, Konvoy Ventures rose to 8th place in the gaming VC rankings.
Josh Chapman, the managing partner of Konvoy Ventures, said the following in an interview:
“We look for the best entrepreneurs building the video game industry’s next category-defining companies, across the myriad of different gaming industry verticals, and this new $150M fund will supercharge our ability to do just that. We’re proactive and thesis-driven, meaning we have a vision of what we think the industry will look like, and then make investments based on that foresight. Our passion for this industry drives us toward our goal of being the best performing gaming investment firm in the world.”
Founded by Managing Partners Josh Chapman, Jason Chapman (brothers), and Jackson Vaughan, all passionate gamers with a deep knowledge of the industry, Konvoy will invest larger amounts in some 30 early-stage companies over the next two and a half years. Currently employing six investment team members and a platform head, Konvoy aims to increase its team to 15-20 by the end of 2023.
After the new fund was announced, Josh Chapman made the following statements in a LinkedIn post;
“We will continue to grow the firm with new team members as well as expand our capabilities around helping portfolio companies build their vision.”
Konvoy Ventures has supported Sky Mavis, the developer of Axie Infinity, which has caused great controversy.
Refraining from commenting on this issue, Jason Chapman stated that they are ready to help companies withstand the challenging market environment. In the past months, the theft of $ 620 million from Sky Mavis’ Ronin network has shaken the blockchain industry.
The partners also said they would support gaming companies operating at the intersections with other industries, including education and healthcare. In addition, they also added that they are still hopeful about the blockchain industry.