Carey Olsen and Oakbridge Support Play Ventures on Launch of Venture Capital Blockchain and Metaverse Gaming Fund
Carey Olsen and Oakbridge Fund Services (Oakbridge) have recently supported the Singapore regulated manager Play Ventures Pte. Ltd with its launch of Play Future Fund Limited (the Fund).
The Fund invests in global early-stage pre-seed, seed, Series A and blockchain and metaverse gaming companies and tokens. It was established as a Jersey Private Fund, an increasingly popular route for Singapore fund managers with digital asset focused investment strategies.
Kenrick Drijkoningen, partner at Play Ventures, said: “We work with ambitious and passionate entrepreneurs to help create our gaming powerhouse. We are delighted to have closed our fund working with Carey Olsen and Oakbridge and look forward to delivering for our investors. The new fund enables us to take our growth journey to the next level in this exciting emerging sector.”
The Carey Olsen team was led by Jersey corporate partner Chris Griffin and Singapore-based senior associate Susan McKinstray, with further support from senior associate Sophie Hancock.
Susan said: “The launch of Play Ventures’ blockchain and metaverse gaming fund is another success for the Jersey fund sector as it is the latest in a number of Singapore managers using the jurisdiction in order to take advantage of the increasingly popular Jersey Private Fund regime.”
The Oakbridge team act as designated service provider to the Fund and in doing so provide administration and regulatory compliance services to the fund.
Oakbridge director Alex Smyth commented: “Working with Play Ventures is giving us a fascinating insight into the gaming sector and the potential of blockchain. Choosing the Jersey Private Fund demonstrates the global reputation of the structure chosen by a multi-jurisdictional business.”