Immutable and Polygon Labs have partnered up with Australian/US VC King River Capital to announce the Inevitable Games Fund, which it hopes to scale up to $100 million.
Labelled an “ecosystem-agnostic fund” that will invest in web3 games and infrastructure, Immutable and Polygon will source deal flow opportunities and provide sector expertise, while King River will handle the VC investment process.
It’s not been revealed how much funding has been raised to-date but the likes of Alpha Wave Ventures, and Merit Circle have committed, as has the family offices of Steve Kokinos (Sonic Boom Ventures) and Mike Arrington (Arrington Capital) as well as Immutable co-founders Robbie and James Ferguson and Polygon’s Sandeep Nailwal.
Indeed, the fund will take over some existing investments from these entities including those in Pixelmon, MetalCore, Guild of Guardians and My Pet Hooligan.
“Just as mobile gaming went from virtually zero in 2008 to 79% of gamers playing mobile today, we believe a similar shift has only just begun to web3 technology,” commented King River managing partner Zeb Rice.
“The Fund provides investors with an opportunity to gain unique access to the best web3 gaming projects globally and is designed to benefit from this multi-hundred billion dollar shift in spending to this disruptive new technology.”