- Bitkraft Ventures, a gaming investment firm, launched a $275 million investment round for early-stage gaming projects
- With this latest round, Bitkraft’s total managed assets will reach $1 billion
- The new fund will focus on investing in early-stage gaming projects, with at least 15% earmarked for projects in the Asian sector
Bitkraft Ventures, a global investment platform for gaming and media projects, has launched a new $275 million investment fund. This latest round will bring the company’s total assets under management to around $1 billion.
About Bitkraft’s Investment Rounds
Bitkraft’s previous rounds included investments in notable companies such as blockchain developer Jungle and Eve Online creator CCP. Its second funding round, dubbed Venture II, largely focused on Web3 and blockchain games.
The latest $275 million round will go toward early-stage gaming projects. At least $15 million has been earmarked for projects in the Asian sector, according to Dealstreet Asia.
Optimism About the Gaming Industry
Jens Hilgers, a founding partner at Bitkraft Ventures, told GamesBeat that the company is interested in the next generation of studios, developers and games.
Hilgers said “At Bitkraft Ventures, we are as committed to – and optimistic about – the future of the games industry as we were from the inception of Bitkraft in 2016. We’ve seen continued growth across all major game platforms in metrics including user engagement, activity levels and monetization.”
The Impact of Web3
While the gaming industry experienced a notable global decline in revenues in 2022, Web3 projects have seen a substantial recovery since Q4 2022. Many analysts credit the Bitcoin bounce for this Web3 gaming rebound.
Carlos Pereira, partner at BitKraft Ventures, recently told Cointelegraph that Web3 gaming has been a strong segment in the Q4 2022 recovery, with positive activity expected for 2023.
If this latest Bitkraft funding round is any indication, the private gaming market appears to have recovered as well. Publicly traded gaming stocks often diverge from private market deals when capital is scarce in VC, Pereira noted.
Conclusion
With its largest funding round to date, Bitkraft Ventures aims to tap into the next generation of gaming studios, developers and titles. The rebound in Web3 gaming, along with Bitkraft’s continued optimism about the gaming sector, are fueling this $275 million investment round.
