Yield Guild Games Raising $75 Million for Its First Fund

Yield Guild Games (YGG), a web3 gaming guild, is entering the venture capital space, raising $75 million for its first fund, YGG Ventures Fund I. The fund will invest in early-stage token and equity deals in web3, gaming studios and the infrastructure that supports the growth of the industry.

YGG co-founder Beryl Li will be part of the fund's investment committee as well, along with Gabby Dizon, another co-founder of YGG, and Jeff Holmberg, head of asset acquisition at YGG, who will transition to partner at YGG Ventures.

Previously, YGG has sold $13.8 million in tokens to a group of investors led by a16z Crypto and DWF Labs. YGG co-founder Gabby Dizon said that YGG will use the funds to further develop its soulbound reputation token.

According to TokenInsight data, Yield Guild Games ($YGG) went up by 11.22% in the last hour and is now trading at $0.414390.