SAN FRANCISCO - TelAve -- Shima Capital, led by founder and Managing General Partner Yida Gao, are delighted to announce their investment in Web3 gaming startup Midnight. Shima led the $7.5 million seed round for the company, which just emerged from stealth mode last week.

Midnight is founded by a team of seasoned industry professionals coming from NBCUniversal, Disney Mobile Games, and SoundCloud, with a design and creative team who've worked on the likes of Star Trek: Fleet Command, Diablo, and Warcraft. The team, and its connection to IPs, played a major role in what initially attracted Shima Capital to the project.

"Midnight is a project that really stands out from the rest," said Shima Capital founder Yida Gao. "They've chosen to focus on building high quality and accessible games for a diverse audience. They also use blockchain technology as a component of their tech stack, not the primary feature.

More on TelAve News

• Habitat EJC Assembles National Team for Permanently Affordable Community
• Scott Cooper Miami Project Announces New Scholarship Winner: Aban Khan
• Incandescent Entertainment Announces New Film, "Portal in the Pines," starring Jamie Kennedy to Begin Filming This Month in Lousiana
• Tella Firma Foundations Partners with Green Clean Solar to Increase Steel Recycling in the Renewable Energy Industry
• Feature film about President Trump's response to the pandemic and the 2020 election – streaming now

This helps to create real value and utility not just for active Web3 gamers, but for skeptic Web2 gamers making the transition. Finally, the way they weave connections through the games, creating something akin to a cinematic universe - is very unique in the space. We have the utmost faith that Midnight, and their team of industry veterans, will soon turn their vision into a reality."

Yida and the team at Shima Capital are especially excited about what's next for Midnight. Some games already in development at Midnight include Legion, a 4X MMO; Next Protectors, a 2D pixel brawler; and At Your Service, a couch co-op title. Over time, Midnight plans to build a portfolio of first and third-party games for multiple platforms, and genres for a wide and diverse audience.

Midnight is the latest investment by Shima Capital in the Web3 gaming sector. With over 170 companies in their portfolio, and counting, gaming makes up for roughly 30% of their investments. Web3 gaming has been, and continues to be, a top priority for Shima Capital.

More on TelAve News

• The Society of Voice Arts and Sciences has joined with Audible for the Muhammad Ali Voice of Humanity Honor to be presented to Viola Davis
• A Symphony of Inclusion: Geneva Worldwide's ASL Interpreters Shine at the 2023 New York State Fair
• ASI Acquires Clowder®, the Leading Association and Membership Mobile App Platform
• Greg Lindberg Explores in Latest Book the Science of Quantum Biology and Its Impact on Human Life
• Essential Speech and ABA Therapy to Expand Autism Services for a Growing Community

To learn more about Yida Gao and Shima Capital visit www.shima.capital; to learn more about Midnight visit www.midnight.io.

About Shima Capital

Shima Capital is a leading early stage VC firm investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies.