According to Foresight News, San Francisco-based venture capital firm GFR Fund has announced the completion of a $53.5 million fundraising round for its third fund, 'GFR Fund III'. The fund will focus on investments in generative AI, gaming, entertainment, and emerging digital native communities. One-third of the investments will be allocated to gaming content and technology companies, another third will be dedicated to emerging entertainment companies, and the remaining third will be invested in consumer technology businesses.
GFR Fund has already made several investments in the crypto ecosystem, including RTFKT. Its portfolio also includes metaverse data analytics firm Geeiq in the fashion sector, Web3 collectibles market and platform Collectibles, metaverse AI animation tool developer Any World, NFT social platform Based, and crypto live streaming platform Stacked.