HomeGermanyBitkraft Ventures Closes Third Fund, at $275M

Bitkraft Ventures Closes Third Fund, at $275M

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Bitkraft Ventures, a global investment firm for gaming, Web3, and immersive technology, closed its third fund, Bitkraft Ventures Fund III, at $275m.

Led by CEO Jens Hilgers, Bitkraft is a global early-stage investment firm focused on investing in gaming, Web3, and immersive technology. They focus on Seed, Series A, and Series B investments in game studios, gaming platforms, and gaming-related technology (e.g., virtual and augmented reality or blockchain applications). They don’t invest in professional esports teams.

The firm’s perspective on the future of the industries in which they invest – gaming, Web3, and immersive technology – is anchored around a thesis of Synthetic Reality, “that the convergence of physical and digital worlds will continuously introduce new human experiences and create unprecedented social and economic opportunities.”

Commenting on the fund closing, Hilgers said: “What we’re particularly proud of with BITKRAFT is that we’ve built a fantastic culture that resonates well with founders because we are straightforward, honest people that have been in the trenches. Culture is very easy to destroy. But it takes a very long time to build. And in our business, trust, integrity and being good people, besides being good investors, and making the right decision fundamentally, is incredibly important. 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. Newly formed game studios have seen substantial break out successes over the last years, and the advent of AI in game production further benefits new upstarts in the space. Additionally, we have witnessed increased interest in game content beyond incumbents from media and tech giants, as well as private equity firms entering the landscape of potential buyers further expanding the exit landscape.

The firm currently has a global portfolio of over 135 startups supported by a remote team of 25 with main locations in Berlin, New York, and Los Angeles.

VCWire

07/04/2024