Gumi Cryptos Capital (GCC), a venture capital firm targeting blockchain startups headquartered in San Francisco and Tokyo, said it launched a new $110 million early-stage fund.
GCC managing partner Rui Zhang told gaming-updates that the second venture fund aims to support about 50 blockchain companies from pre-seed to seed. Industries include blockchain games, infrastructure, Web3 applications, tools, DeFi (decentralized finance)/CEFI (centralized finance), DAOs, and guilds. Check sizes range from $500,000 to $5 million per investment through initial and subsequent investments. The second GCC fund will invest in both stocks and tokens.
“We live in an era of experimentation,” said Miko Matsumura, managing partner at Gumi Cryptos Capital. “Tokens represent the monetary experiments that allowed the Web3, the DAO, and the guilds—they are governance experiments. NFTs are experimental digital assets. The Metaverse is a collection of experimental realities.”
The limited partners are Japanese gaming company Gumi, Shinsei Bank, CyGames, Mistletoe Venture Partners, Marui Group, GMP Capital and Polygon.
The three managing partners of Gumi Cryptos Capital, Hironao Kunimitsu, Zhang and Matsumura, will lead the GCC Fund II.
Despite the similarities in the brands, Zhang told gaming-updates that Gumi Cryptos Capital (GCC) is not a subsidiary or arm of Gumi’s corporate venture capital, although, notably, Zhang is still a managing partner in addition to his role as VP at Gumi. . position. In Gumi. gcc
Zhang said the second fund has already made nine investments as a lead or co-prime investor, including Proof of Learn, XY Finance, Solve Finance and Alliance Labs.
The new instrument is nearly five times the size of the $21 million Gumi Cryptos Capital Fund I, which supported 36 portfolio companies in its seed round results, including NFT Marketplace OpenC, Yield Guild Gaming, Celsius Network, Curedo, Agoric, Astar, 1Inch. and Vega. The company said its first fund, GCC Fund I, achieved a 24.6x return on invested capital (TVPI) as of January 2022.
“Our access to the Silicon Valley startup culture and capital markets, as well as the Japanese market, is unmatched,” said Kunimitsu. “Japan is also home to unparalleled intellectual property rights, especially in the rapidly growing gaming sector.”