Gumi Cryptos to Support Early Stage Crypto Startups via $110 M Fund.
Gumi Cryptos Capital pledges a massive investment of $110 million in capital for new and early-stage blockchain startups. The Japan-based venture capital has decided to support the crypto startups to escape the existing institutions, systems, and infrastructure especially the one of big tech.
Their ideology resides in that the only way forward is guaranteed in experimentation. Gumi is eager to test the waters of tokens, web 3.0, DAO\’s, metaverse, guilds, and NFT\’s.
The original Gumi Fund was initiated back in 2018 when it reached $21 million in funds.
The amount grew to $516 million in asset value which means a guaranteed ROCE (return on capital employed) of 24.6%.
The newest round has brought more success to Gumi as its partners, Hironao Kunimitsu, Rui Zhang, and Miko Matsumura secured more money.
While talking to GamesBeat, Matsumura said, “One of the absolute keys for our approach is that we’re hands-on, experience-providing early-stage funds.
“We think of ourselves as unicorn builders. We’ve all founded companies and exited companies. The fit is really finding people that we can identify with as entrepreneurs and provide assistance to them.”
The first phase fund was invested in 36 companies while the second fund known as gCC Fund II will target early-stage startups in infrastructure, DeFi, developer tools, web 3, and guilds.
The only requirement for landing funding is a relation with blockchain. The second fund will invest capital ranging from $500000 to $5 million which will work as both an initial and follow-on investment.
The top investments from the first fund phase were made in OpenSea, the crypto-asset marketplace, and Yield Guild Gaming.
Some other investments were made in Celsius Network, Qredo, Astar, 1inch, Agoric, and VEGA protocol.
Kunimitsu and Zhang are of the view that players around the world especially in Southeast Asia, South America, and South Africa are more welcoming when it comes to blockchain games and P2E.
Both are hopeful that sooner or later western gamers too will accept this new trend.
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