Overview of Konvoy Fund III
Konvoy Ventures has announced the launch of Konvoy Fund III (KFIII), a $150 million investment fund targeting early-stage gaming companies. The firm aims to fund approximately 30 startups within the next two and a half years, focusing on pre-seed, seed, and Series A funding rounds.
Investment Focus and Goals
The new fund will not only support companies in the gaming sector but also in other industries such as education and healthcare. Following the launch of KFIII, Konvoy’s total managed assets will increase to $270 million. Despite a decrease in interest in Web3 technology, the firm is optimistic about connecting investors with both blockchain-related projects and traditional gaming studios.
Market Context and Future Plans
Konvoy Ventures, founded in 2017, primarily invests in markets across North America, Europe, and Africa, with intentions to expand into Latin America, India, South Korea, and Southeast Asia. The firm currently holds a portfolio of 33 companies that have raised a combined $450 million in follow-on funding.
Team Expansion
In addition to launching this new fund, Konvoy plans to grow its team to 15-20 members by the end of 2023. The firm believes the current landscape of the $200 billion video gaming industry, along with opportunities in blockchain and crypto, presents significant potential for investment.
Konvoy has previously invested in notable projects, including Sky Mavis, the creator of Axie Infinity, and participated in an $8.3 million funding round for the NFT game Genopets last year.
