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Gaming VC Firm Konvoy Ventures Raises $150 Million Fund

The new fund will include investments in blockchain games.

Josh Chapman, Jason Chapman, Jackson Vaughan
Josh Chapman, Jason Chapman, Jackson VaughanKonvoy Ventures

The cryptocurrency industry is in crisis, but investors like Konvoy Ventures still see potential. The gaming-focused VC firm has raised $150 million for a new fund, which it plans to announce Wednesday. It will aim to spend about 20% to 30% of that money on blockchain and crypto-related games. 

Konvoy Ventures, founded in 2018 by brothers Josh and Jason Chapman and their childhood friend Jackson Vaughan, has already made big bets on blockchain technology. The Denver-based firm backed Sky Mavis, the developer of Axie Infinity, a virtual world where players breed and battle monsters attached to nonfungible tokens — one of the best-known blockchain games, and one of the most controversial. The firm also invested in Genopets, a game where players will be able to grow and evolve an NFT pet through real-world physical exercise, and Ready Player Me, a platform for designing virtual avatars that can wear NFTs.