Two Riot Games veterans have come together to create an early-stage venture capital firm called Patron. As a result, the organization recently announced that it had launched a $90 million venture capital fund that will make investments into gaming and video game technology companies.
“It’s our conviction that games will shape the future. We believe that the biggest opportunities in games will converge into Web 3 (P2E [play-to-earn]/NFTs), and consumer categories like education, fitness, personal finance, and more. It will be built for the gaming-natives who not only grew up with games such as Roblox and RuneScape, but also consumer apps like Discord, TikTok, Robinhood, and digital assets like NFTs and crypto,” said Patron co-founder Jason Yeh in a recent blog post.
Patron’s seed fund has already received backing from over 100 limited partners. This includes Chirs Dixon and Arianna Simpson, two high-power individuals from Andreessen Horowitz Crypto.
According to a report from CoinDesk, Patron has already backed four companies. The names of those organizations are expected to be revealed at a later date. Reports indicate two of the companies are play-to-earn organizations while another is a token deal.
(All information was provided by VentureBeat and Yahoo! Finance)
Check out the industry-leading META Business podcast where we discuss the intersection of business and the metaverse.
0 comments on “Patron Unveils $90M Investment Fund For Gaming”