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Investments

9

Portfolio Exits

1

About Matt Huang

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Latest Matt Huang News

Twitch co-founder Justin Kan’s NFT marketplace for gaming raises $35 million

Apr 2, 2022

Fractal, a new marketplace for gaming NFTs founded by Justin Kan, the co-founder of Twitch, today announced a $35M seed round led by Paradigm and Multicoin Capital with with participation from Andreessen Horowitz, Solana Labs, Animoca, Coinbase Ventures, Play Ventures, Position Ventures, Zynga founder Mark Pincus, Crossover, Shrug Capital, TerraForm CEO Do Kwon, Tim Ferriss, the founders of Ramp, and many more. Credits: techcrunch.com Paradigm’s Matt Huang will be joining the company’s board. This financing round comes two months after launching Fractal to the public on December 30th, 2021. The new funds will be used to hire more engineers, recruit and support game developers, and grow a vibrant ecosystem of GameFi participants. Paradigm and Multicoin Capital led the round with participation from Andreessen Horowitz, Solana Labs, Animoca, Coinbase, Play Ventures, Position Ventures, Zynga founder Mark Pincus, Crossover, Shrug Capital, TerraForm CEO Do Kwon, and Tim Ferriss. Paradigm’s Matt Huang will be joining the company’s board. This financing round comes two months after launching Fractal to the public on December 30, 2021. The new funds will be used to hire more engineers, recruit and support game developers, and grow a vibrant ecosystem of GameFi participants. Fractal vets web 3 games for quality, accepting only 5% of applications to Fractal Launchpad, Kan said. Games that have launched on the Fractal launchpad include real-time strategy games (House of Sparta), multi-mode games (Tiny Colony), racing games (Yaku), and massively multiplayer online role-playing games (Cinder and Nekoverse). Source: https://appuals.com/twitch-error-code-2ff31423-on-xbox-one/ If NFT gaming on an upstart blockchain sounds wild, Kan is known for taking a zany idea and turning it into a big business. In 2007, he co-founded Y Combinator startup Justin.tv, his self-named livestreaming site, which eventually turned into Twitch. Despite the issues with bridges and other obstacles, it’s gotten easier for consumers to use Solana through tools like the Phantom wallet, Kan said. Fractal, which launched in late December and has raised $35 million in seed funding led by Paradigm and Multicoin Capital, vets the games and then partners with games that agree to have their NFTs trade on Fractal by marketing games to gamers, through its Discord (100,000 members), Twitter, podcasts and giveaways. Fractal takes a 2% transaction fee on secondary sales on its marketplace. Fractal’s CEO is David Wurtz, who Kan knew because they were both early Y Combinator participants, and is credited as a co-creator of Google Drive.

Matt Huang Investments

9 Investments

Matt Huang has made 9 investments. Their latest investment was in On Deck as part of their Series A on March 3, 2021.

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Matt Huang Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/25/2021

Series A

On Deck

$20M

Yes

2

10/29/2018

Series A

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$99M

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10

10/3/2016

Series A

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$99M

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10

7/14/2015

Seed - III

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$99M

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10

7/11/2014

Seed VC

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$99M

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10

Date

3/25/2021

10/29/2018

10/3/2016

7/14/2015

7/11/2014

Round

Series A

Series A

Series A

Seed - III

Seed VC

Company

On Deck

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$20M

$99M

$99M

$99M

$99M

New?

Yes

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Subscribe to see more

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

10

10

10

10

Matt Huang Portfolio Exits

1 Portfolio Exit

Matt Huang has 1 portfolio exit. Their latest portfolio exit was Amplitude on September 28, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/28/2021

IPO

$99M

Public

28

Date

9/28/2021

Exit

IPO

Companies

Valuation

$99M

Acquirer

Public

Sources

28

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