Bitkraft’s gaming fund hits $275M, pushing total managed assets to $1B.

Bitkraft Ventures, an international investment platform specializing in gaming and media projects, has recently unveiled plans for a $275 million investment round. This new round is set to elevate the company’s total assets under management to approximately $1 billion.
In their previous funding rounds, Bitkraft Ventures made investments in renowned companies such as Jungle, a blockchain developer, and CCP, the creator of the popular game Eve Online. Their second funding round, known as Venture II, primarily focused on web3 and blockchain games.
The latest investment round will primarily support early-stage gaming projects. According to a report by Dealstreet Asia, at least 15% of the funds have been specifically allocated for projects in the Asian gaming sector.
Jens Hilgers, one of the founding partners at Bitkraft Ventures, expressed the company’s interest in supporting the next generation of studios, developers, and games. Hilgers told GamesBeat that the gaming industry experienced a significant decline in revenues globally in 2023. However, web3 projects have witnessed a remarkable recovery since the fourth quarter of that year, which many analysts attribute to the resurgence of Bitcoin.
Carlos Pereira, a partner at Bitkraft Ventures, echoed this sentiment in a recent interview with Cointelegraph. He emphasized the strength of web3 gaming in the Q4 2023 recovery, with positive launch activity both in recent times and expected for 2024.
This latest funding round by Bitkraft Ventures, their largest to date, serves as an indication that the private market has rebounded. Pereira explained to Cointelegraph that during times when venture capital deals lacked abundant capital, it was expected for there to be some divergence between the public and private markets, particularly for gaming and media companies that are publicly traded.