Bitkraft Unveils $275M Round to Fuel Gaming Innovation

Bitkraft Ventures, a prominent global investment platform specializing in gaming and media projects, has announced the launch of a substantial $275 million investment round. 

With this infusion of capital, Bitkraft’s total assets under management are expected to reach approximately $1 billion, signifying a significant milestone for the company.

As reported earlier by TheCoinRise, Bitkraft debuted a $75 million token fund in 2021 during the crypto market bull run. The fund was used for investing in digital entertainment and blockchain gaming.

Bitkraft is Focused on Web3 and Blockchain Games

Notable investments from Bitkraft’s previous funding rounds include blockchain developer Jungle and CCP, the creator of the renowned Eve Online universe. 

The company’s Venture II round, in particular, focused heavily on Web3 and blockchain games, reflecting Bitkraft’s commitment to cutting-edge technologies shaping the gaming landscape.

The latest investment round will primarily target early-stage gaming projects, with a notable allocation of at least 15% earmarked for initiatives in the Asian sector.

Next Generation of Studios

Jens Hilgers, a founding partner at Bitkraft Ventures, emphasized the company’s keen interest in nurturing the next generation of studios, developers, and games, highlighting the ongoing evolution and growth of the gaming industry.

Hilgers expressed optimism about the future of the games industry, citing continued growth across major platforms in metrics such as user engagement, activity levels, and monetization. He underscored the significant breakthrough successes achieved by newly formed game studios in recent years, buoyed by advancements such as AI in game production.

While the gaming industry witnessed a global revenue decline in 2023, the resurgence of Web3 projects since the fourth quarter of that year has been notable. Analysts attribute this recovery, in part, to the resurgence of interest in cryptocurrencies, commonly referred to as the “Bitcoin bounce.”

Bitkraft is Anticipating Further Growth in 2024

Carlos Pereira, a partner at Bitkraft Ventures, highlighted the strength of the Web3 gaming segment in the Q4 2023 recovery, noting positive launch activity and anticipating further growth in 2024.

The unveiling of Bitkraft Ventures’ largest funding round to date suggests a resurgence in the private market, signaling renewed confidence and investment in gaming innovation. 

Divergence Between Public and Private Markets

Pereira acknowledged the divergence between public and private markets, noting that during periods of limited venture capital availability, discrepancies between the two markets are to be expected.

As Bitkraft Ventures continues to spearhead investments in groundbreaking gaming and media projects, the company stands poised to shape the future of the gaming industry and drive innovation across global markets.