Venture Capital: BITKRAFT Closes Gaming Fund At $165M
The fund will invest in so-called “synthetic realities” – the worlds of gaming, esports, and interactive media.
BITKRAFT Ventures is a venture capital company that invests in companies and start-ups in the fields of games, media, and esports. BITKRAFT is led by Jens Hilgers, the former ESL CEO and G2 Esports chairman. It announced a raise of $ 165 million for its new fund, exceeding the originally targeted amount of $ 125 million. (ESPN)
Investors in the new fund include Carolwood, the family office of Bruce Karsh; Declaration Partners, the investment firm backed by the family office of David Rubenstein; JS Capital, the investment firm of Jonathan Soros; as well as corporate investors such as Adidas, WPP, Advance, and Logitech.
BITKRAFT Gaming investments
According to TheGamingEconomy, BITKRAFT recently participated in funding for USD$10m in Boom.tv; USD$4.3m in Gamezop; USD$3.5m in Bit Fry Game Studios; USD$10m in Veritas; USD$1m in PatronGG; USD$5m in Ready; and USD$2.5m in Bazooka Tango.
It reportedly now has a portfolio that spans more than 50 companies across North America, Europe, and Asia.
Gaming has turned bullish after COVID-19.
According to a Forbes report, quoted by CrunchBase, gaming is now an industry worth $ 160 billion powered by a participating global audience of 2.7 billion gamers. The report said COVID-19 had pushed up the number of daily active users of HD games by 50%.
“At BITKRAFT, we don’t just support forward-thinking entrepreneurs with capital, but also provide experience, resources, and our global network,” said Jens Hilgers, BITKRAFT Ventures founding general partner, in a written statement. “While we are living in challenging times, our industry is experiencing strong tailwinds and unprecedented opportunities. There is no better time for BITKRAFT to invest.”
Latest Alternative Investment News
Affirm announced Thursday its raise of $500 million in a G Round led by GIC and Durable Capital Partners LP. Other investors included Lightspeed Venture Partners, Wellington Management Company, Baillie…
Tonal, a startup that makes compact, AI-powered, wall-mounted home fitness equipment, announced Thursday its raise of $110 million. Returning investors L Catterton, Sapphire Sport, Shasta Ventures, Mayfield, Evolution Media, and…
It’s a striking, futuristic residence that commands panoramic views, combines home with a place to work, and is controlled by artificial intelligence having its own data center. Based outside Prague,…
The State of Wyoming greenlighted Kraken’s application to form the world’s first Special Purpose Depository Institution (SPDI). Kraken Financial, the new entity, can operate as a fully independent bank and…