Aditya Hadi Pratama · · 1 min readOpenSea, YGG investor raises $110m for second Web3-focused fund
Gumi Cryptos Capital (GCC), a blockchain-focused venture capital firm, has raised US$110 million for its second fund.
(From left) Gumi Cryptos Capital partners Hironao Kunimitsu, Rui Zhang, and Miko Matsumura / Photo credit: Gumi Cryptos Capital
Fund II will invest in early-stage companies that build solutions in blockchain infrastructure, developer tools, gaming, decentralized finance, metaverse, decentralized autonomous organizations, and Web3 applications. It aims to back 50 companies in equity and tokens, with a ticket size between US$500,000 to US$5 million per investment.
Founded in 2018, GCC has offices in Japan and Silicon Valley. It raised US$21 million in its maiden fund.
The VC firm counts Gumi, Shinsei Bank, Cygames, Mistletoe Venture Partners, Marui Group, GMF Capital, and Polygon as its limited partners.
GCC said that the asset value of Fund I has grown to US$516 million, or around 24.6x return on capital employed. The performance puts the fund in the top 1% of global VC firms, according to AngelList. The fund has been disbursed to 36 companies, including prominent blockchain startups such as OpenSea and Yield Guild Games.
See also: Are SEA’s tech VCs missing out on the crypto craze?
The VC firm’s second fund will be led by its initial partners, Hironao Kunimitsu and Rui Zhang – who are the CEO and vice president of Gumi respectively – along with Evercoin founder Miko Matsumura.
Editing by Collin Furtado and Lorenzo Kyle Subido
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