Konvoy Launches $150M Third Fund

Konvoy, a Denver, CO-based early-stage investment firm that invests at the frontier of gaming, launched a new $150M fund.

Konvoy Fund III will focus on pre-seed, seed, and Series A gaming companies within a number of different gaming verticals – including technology, platforms, Web3 gaming – and gaming companies operating at the intersections with other industries, including education and healthcare.

Geographically, Konvoy, which leads the majority of the investments it makes, will continue to focus on North American, European and African markets, while actively expanding its investments into Latin America, India, South Korea, and South-East Asia.

Konvoy’s portfolio consists of 33 companies which have collectively raised $450M in follow-on funding. This includes: Axie Infinity (combining the fun of gaming with the financial benefits of Play-to-Earn), Gamefam (a publisher and developer of games on the Roblox platform); Carry1st (Africa’s leading mobile games publisher with a payments solution); Ready Player Me (a cross-game avatar platform for the metaverse), Legends of Learning (an education-based gaming platform that 5% of kids in America use), and Sanlo (providing gaming and app creators with non-dilutive financing at scale), and Edgegap (reducing lag and improving player experience for gaming studios). 

Founded by Managing Partners Josh Chapman, Jason Chapman (brothers) and Jackson Vaughan, Konvoy will now invest larger amounts in around 30 early-stage companies over a period of the next two and a half years. 

LPs backing the firm’s largest fund to-date include family offices, gaming and media corporates, and gaming founders. Currently employing six investment team members, and a Head of Platform, Konvoy will expand its team to 15-20 people by the end of 2023. 

In addition to financial investment, Konvoy provides value to its portfolio companies by supporting on recruitment (sourcing, vetting, and strategy), product roadmap and engineering reviews, sharing insights and trends, establishing connections with strategic corporate partners, delivering support and guidance for follow-on funding (including investment decks, financial models, and data rooms), and exiting, as well as media and marketing support.

With the new fund, Konvoy will have $270M under management. 

FinSMEs

06/07/2022