The gaming guild YGG has launched its first Web3 fund, YGG Ventures Fund I, aiming to raise $75 million

ChainCatcher news, the gaming guild Yield Guild Games (YGG) is entering the venture capital space, raising $75 million for its first fund, YGG Ventures Fund I.

YGG co-founder Beryl Li confirmed the establishment of YGG Ventures and the target amount for the fund. The fund's pitch states that its mission is to invest in early tokens and equity transactions in web3, gaming studios, and infrastructure that supports industry development, benefiting the LPs of YGG Ventures Fund I.

While the fund seeks LPs, YGG Ventures GP will serve as the general partner of the fund. The fund is looking for a minimum investment of $500,000 from each LP, with a term of five to seven years. (The Block)