Inevitable Games Fund reports 2.8 multiple returns on liquid investments

A year since launch, the Inevitable Games Fund – a joint initiative between Immutable, Polygon Labs and Australian/US VC King River Capital – has been talking up its performance.

Revealed at the beginning of March 2024, it wasn’t announced how much the fund had raised, only that it hoped to raise around $100 million.

What’s now being reported is that the fund has invested in 16 gaming projects over the last nine months.

An undisclosed number of these projects have since launched a token, with the fund claiming its ROI on those projects is a 2.8 multiple. It also points out that this is double the 1.4 multiple that would have been experienced investing in Bitcoin over the same period.

It’s unclear, however, if these are realized or unrealized gains i.e. whether the fund has actually cashed out its tokens and returned profits to its investors, or whether these are “on paper” profits.

Operating as a cross-ecosystem fund, the Inevitable Games Fund invests in web3 games and infrastructure deals sourced by Immutable and Polygon, while King River handles the VC investment process.

Since launching the fund, Immutable has continued to experience growth in terms of users, with its Immutable Passport wallets now boasting over 4.6 million sign-ups. It also claimsto have over 500 web3 titles in its ecosystem.

Among the fund’s early investors is Polygon Labs co-founder Sandeep Nailwal, as well as Merit Circle, the family offices of Steve Kokinos (Sonic Boom Ventures) and Mike Arrington (Arrington Capital) and Immutable co-founders James and Robbie Ferguson.