PANews reported on February 18 that the Web3 game guild Yield Guild Games (YGG) is entering the venture capital field and has raised $75 million for its first fund. Beryl Li, co-founder of YGG, said that the fund's mission is to invest in early tokens and equity transactions in web3, game studios, and infrastructure that supports the development of the industry. Li will also become a member of the fund's investment committee along with Gabby Dizon, another co-founder of YGG, and Jeff Holmberg, head of asset acquisitions at YGG, who will move to become a partner at YGG Ventures. According to reports, Holmberg will oversee the fund's strategy and daily operations in his new position and manage a team of game analysts.
According to previous news, this Friday, the gaming guild YGG raised US$13.8 million by selling tokens, with a16z Crypto and others participating in the investment.
