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About GFR Fund
GFR Fund is a venture capital firm founded in 2016. It is primarily based out of San Francisco, United States. As of Oct 2025, GFR Fund is an active investor, having invested in 101 companies, with 5 new investments in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from High Tech to Enterprise Applications and Consumer. Most recently it participated in the $***** Seed round of CityLegends Overall, GFR Fund portfolio has seen 3 unicorns and 16 acquisitions including key companies like Animoca Brands, Mapbox and Sky Mavis. A lot of funds co-invest with GFR Fund, with names like The Venture Reality Fund sharing a substantial percentage of its portfolio. GFR Fund has team of 13 people including 2 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
GFR Fund's List of Top Investments
GFR Fund has a portfolio of 101 companies, including 3 unicorns. Their most notable investments are in Highrise and Solsten.Their portfolio spans across United States, United Kingdom, India and 13 more locations. They have invested in High Tech, Enterprise Applications, Consumer and 22 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by GFR Fund:Developer of blockchain-based PC and mobile games. It develops and publishes blockchain games, traditional games, and other products. The company focuses on the development of racing and strategy-based NFT games which includes the sandbox, crazy kings, and crazy defense heroes. It also provides cloud authentication services and collaborate with formula one to develop blockchain games.
Key facts about Animoca Brands
- Founded Year: 2006
- Location: Kowloon (China)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $880M
- Employee Count: 341 as on Mar 31, 2026
- Investors: Harmony Partners, Temasek and 120 Others
- Latest Funding Round: Series C, Nov 11, 2024, $*****
- Highlight: Editors' Pick
2. Samba
Provider of television viewership data and advertising and measurement solutions. The company offers a technology stack that includes a television panel. It provides advertising and measurement solutions. The company states that it complies with privacy laws.
Key facts about Samba
- Founded Year: 2008
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $46.3M
- Employee Count: 377 as on Feb 28, 2026
- Investors: August Capital, Union Grove Venture Partners and 20 Others
- Latest Funding Round: Venture Debt, Dec 08, 2025, $*****
- Highlight: Editors' Pick
3. Theta Token
Decentralized video delivery platform. It offers decentralized peer to peer video delivery platform. Users earn Theta tokens as a reward for sharing bandwidth and resources. Video streaming platforms and content providers can build customized Dapps via the platform.
Key facts about Theta Token
- Founded Year: 2016
- Location: Cupertino (United States)
- Stage: Series A
- Total Funding till date: $9.26M
- Employee Count: 43 as on Jan 05, 2026
- Investors: IOVC, DHVC and 35 Others
- Latest Funding Round: Series A, Dec 06, 2023, $*****
- Highlight: Editors' Pick
4. Mapbox
Provider of customizable maps, navigation, search, and location data products. The company offers tools and datasets for developers and organizations. These resources facilitate the creation of location-aware applications and services. Offerings include mapping SDKs, search APIs, and various geospatial datasets. These support diverse applications across industries, including automotive, logistics, and telecommunications.
Key facts about Mapbox
- Founded Year: 2010
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $507M
- Employee Count: 917 as on Mar 31, 2026
- Investors: SoftBank Group, DFJ Growth and 14 Others
- Latest Funding Round: Series E, Sep 19, 2023, $*****
- Highlight: Editors' Pick
5. Sky Mavis
Developer of blockchain games and infrastructure for player-owned digital economies. The company builds virtual worlds and the infrastructure to support them. It offers a game featuring creatures, built to introduce blockchain technology. The company also provides a blockchain designed for developers creating games with player-owned economies. It provides tools for developers to build and scale blockchain-infused games.
Key facts about Sky Mavis
- Founded Year: 2019
- Location: Singapore (Singapore)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $311M
- Employee Count: 132 as on Mar 31, 2026
- Investors: Samsung NEXT, Konvoy Ventures and 33 Others
- Latest Funding Round: Series B, Apr 06, 2022, $*****
- Highlight: Editors' Pick
GFR Fund's Year-on-Year Investment Trends
GFR Fund has invested in 101 companies over the last 8 years, with an average of 7 new investments annually in the last 5 years. In 2025, it made 10 investments. Its most recent first time investment was in CityLegends and most recent follow-on round was in STAN.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 7 | 3 | 10 |
2024 | 7 | 0 | 7 |
2023 | 8 | 0 | 8 |
2022 | 10 | 1 | 11 |
2021 | 7 | 3 | 10 |
2020 | 2 | 1 | 3 |
2019 | 2 | 0 | 2 |
2018 | 8 | 0 | 8 |
GFR Fund's Investments by Stage
GFR Fund has made 33 investments in Seed stage with an average round size of $3.92M, 17 investments in Series A stage with an average round size of $11.2M and 1 investment in Series B stage with an average round size of $15M.Stage of entry | No. of Investments |
|---|---|
Seed | 33 |
Series A | 17 |
Series B | 1 |
Note: We have considered here, only first round of investments
GFR Fund's Investments by Sector
GFR Fund has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, Gaming, High Tech and Media & Entertainment. Notably, it has invested in 89 Tech companies, 61 Consumer (B2C) companies, 55 Software companies and at least 39 companies focusing on Enterprise (B2B).Sector | No. of Investments |
|---|---|
Consumer | 16 |
Enterprise Applications | 15 |
Gaming | 15 |
High Tech | 12 |
Media & Entertainment | 10 |
Others | 47 |
Note: We have considered here, only first round of investments
GFR Fund's Investments by Geography
GFR Fund has made most investments in United States (33), followed by United Kingdom where it has made 6 investments.Country | No. of Investments |
|---|---|
United States | 33 |
United Kingdom | 6 |
India | 3 |
Nigeria | 2 |
Australia | 1 |
Others | 7 |
Note: We have considered here, only first round of investments
GFR Fund's recent investments
GFR Fund has not made any investment in 2026 so far.Here are the most recent investments by GFR Fund:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 28, 2025 | Netherlands | Seed | 7992 | ||
Aug 13, 2025 | Australia | Seed | 9545 | [+3] | |
Aug 06, 2025 | India | Series B | 4681 | [+14] | |
Jul 31, 2025 | Singapore | Series A | 3329 | [+10] | |
Jul 09, 2025 | Nigeria | Series A | 2761 | [+5] |
Unicorns in GFR Fund's Portfolio
GFR Fund has 3 unicorns in its portfolio - Animoca Brands, Sky Mavis and Mapbox. The most recent unicorn in their portfolio is Animoca Brands. It became a unicorn in 2022, 4 years before GFR Fund first invested in it.Here is a list of unicorns in GFR Fund's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
74 | Developer of blockchain-based PC and mobile games | 2006 | Kowloon | Series C | ph{zczg | ||
70 | Developer of blockchain games and infrastructure for player-owned digital economies | 2019 | Singapore | Series B | qry{tzo | ||
73 | Provider of customizable maps, navigation, search, and location data products | 2010 | San Francisco | Series E | ztbkogi |
Acquired companies in GFR Fund's Portfolio
16 companies from GFR Fund's portfolio have been acquired. The most recent acquisition were Vinovest in Mar 2026 by StartEngine.Here are GFR Fund's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 24, 2026 | - | - | 8451 | |
Dec 16, 2025 | - | - | 9621 | |
Apr 08, 2025 | Feb 17, 2022 | Series A | 4374 | |
Mar 23, 2023 | Oct 28, 2019 | Series A | 2066 | |
Mar 15, 2023 | Jul 19, 2018 | Seed | 4909 |
Team profile of GFR Fund
GFR Fund has a team of 13 members including 2 Partners and 1 Principal located in United States. GFR Fund's team does not sit on the board of any company as of now.Here is a list of top team members in GFR Fund:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | San Francisco | - | ||
Partner | New York City | - | ||
Principal | Mountain View | - | - |
Co-investors of GFR Fund
Over the past 8 years, 460 investors have co-invested in GFR Fund's portfolio companies. This includes funds and angels.
- Invested before GFR Fund: Y Combinator, Greycroft and 143 others have invested in rounds before GFR Fund. There are 5 companies where Y Combinator has invested before GFR Fund and 3 companies where Greycroft has invested before GFR Fund.
- Top Co-investors of GFR Fund: 245 investors entered a company along with GFR Fund. These include investors like The Venture Reality Fund (5 companies).
- Invested after GFR Fund: A total of 70 investors have invested in GFR Fund's portfolio after their investments. Top Investors include Play Ventures (2 companies), DWF Labs (1 company) and Nazara (1 company).
Recent News related to GFR Fund
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CityLegends raises €1.7M to expand street sports platform globallySilicon Canals•Oct 28, 2025•CityLegends, GFR Fund, Dutch Sport Tech Fund, LUMO Labs
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Chowdeck Raises $9M in Series A FundingFinSMEs•Aug 11, 2025•HoaQ, Chowdeck, Rebel Fund, Asia Africa Investment and Consulting and 4 others
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A16z, Polygon back $15m series B for Indian gaming studioTech in Asia•Aug 06, 2025•Skycatcher, SuperGaming, Steadview, NEOWIZ and 4 others
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Gaming Community Startup STAN Secures $8.5 Mn in Funding from Google AI Fund, OthersInc42•Jul 31, 2025•Google Labs, Reazon, Aptos, Stan and 11 others
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Final Boss Sour gets $4M seed funding, expands product line with tropical flavorsFoodBev Media•May 29, 2025•Final Boss Sour, GFR Fund, Uncommon Denominator, Melitas Ventures and 1 other
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Final Boss Sour Raises $4M in Seed 2 FundingFinSMEs•May 20, 2025•Final Boss Sour, Uncommon Denominator, GFR Fund, Melitas Ventures and 3 others
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Alinea Invest Secures $10.4 Million in Series A FundingFintech News America•Apr 11, 2025•Alinea, Play Ventures, GFR Fund, Y Combinator and 3 others
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Little Umbrella makes the funding rain after success of Death by AI social gameVentureBeat•Jan 30, 2025•The Venture Reality Fund, Andreessen Horowitz, WorkPlay Ventures, Ubiquoss and 5 others
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Final Boss Sour Secures $3M to Fuel Growth and Launch More Sour SnacksBusiness Wire•Oct 29, 2024•Final Boss Sour, Science, F4 Fund, GFR Fund and 4 others
