World-leading global investment platform Bitkraft Ventures has announced the launch of a $275 million investment round. The company, which focuses on gaming and media projects, says the latest round of fund will be targeted at early-stage gaming projects. According to Bitkraft, that much capital infusion is expected to bring its total assets under management (AUM) to an impressive $1 billion.
Notably, the venture capital (VC) firm already has a track record of making strategic investments. It has financially backed well-known firms such as blockchain developer Jungle as well as CCP, the creative mind behind the iconic Eve Online. Bitkraft’s second round of funding, which was tagged Venture II, also invested primarily on web3 and blockchain-based gaming innovations.
As earlier noted, however, the latest funding round will be focused majorly on gaming projects. The move is a testament to Bitkraft’s commitment to the gaming industry future. However, a Dealstreet Asia report claims that at least 15% of the fund will be earmarked to such projects within the Asian region. As of publication though, there is no official statement yet, regarding why that is.
Meanwhile, Jens Hilgers, one of the founding partners at Bitkraft Ventures, has expressed enthusiasm for the next generation of studios, developers, and games. He acknowledged the consistent growth that has occured across major game platforms in recent years. He also used metrics such as user engagement and user activity as yardstick for his submission. Part of his statement reads:
“Newly formed game studios have achieved remarkable breakthroughs in recent years, and the integration of artificial intelligence in game production further empowers emerging startups.”
Bitkraft Ventures Aims to Ignite Gaming Sector
It might be worth noting that the gaming sector saw a global revenue decline in 2023. However, web3 projects in the sector have somehow gathered momentum and are experiencing a remarkable resurgence. That is since the fourth quarter of last year. Although some analysts attribute this revival to the so-called “Bitcoin bounce,” Carlos Pereira, another partner at BitKraft Ventures, insists that web3 gaming was key to the Q4 2023 recovery. Pereira also anticipates continued positive momentum throughout 2024.
Bitkraft Ventures’ latest funding round is its largest to date. Its significance, however, extends beyond a mere commitment to gaming. More than that, the timing of the fund suggests a robust private market, even as publicly traded gaming and media companies currently appear to have their hands tied when it comes to venture capital deals. Pereira acknowledged the divergence between public and private markets, emphasizing that the private sector remains resilient.
Bitkraft Ventures’ latest move underscores its unwavering commitment to shaping the future of gaming and media. As the industry evolves, this injection of capital will undoubtedly catalyze innovation and propel the next wave of gaming success stories.
