GFR Fund, an affiliate of the Tokyo-based internet media company GREE, Inc., announced the status of its second fund, GFR Fund II. The venture capital fund focuses on early-stage development companies.
In March 2019, GFR Fund opened GFR Fund II with an initial investment of $20 million.
During the year, the fund closed eight new investments, five of which are yet to be announced. GFR Fund II’s portfolio includes the esports training guide ProGuides, the mobile game subscription service GameClub, and the audience monetization platform Fan.AI. GFR Fund plans to add more companies in its portfolio in 2020 focusing on live streaming, esports, AI, and blockchain technologies.