PANews reported on February 4 that Turkish venture capital fund Laton Ventures announced the completion of a $50 million fundraising, which will be invested globally in seed and pre-seed stage game and application startups. After completing the latest round of fundraising, the fund made it clear that the relevant funds will not be used for Web3 or cryptocurrency-related business models.

It is reported that in April last year, Laton Ventures launched a US$35 million global gaming venture capital fund, focusing on the importance of artificial intelligence and Web3 technology in games.

Laton Ventures' investment portfolio includes mobile game studios and innovative social game platforms, and its investors include more than 40 well-known game and technology industry entrepreneurs and senior executives from more than 10 countries, such as founders or former executives of Peak, Gram, Loop and Huuuge. In addition, large companies such as Supercell (developer of Clash of Clans), Tibas Ventures (the venture capital arm of İş Bankası, Turkey's largest private bank), as well as several institutional investors and family offices also support the fund.