Bitkraft Ventures, a global investment platform specializing in gaming and media projects, has recently unveiled plans for a $275 million investment round. This round is expected to elevate the company’s total assets under management to approximately $1 billion once completed.
Bitkraft Ventures has previously invested in prominent companies such as Jungle, a blockchain developer, and CCP, the creator of Eve Online. Their second funding round, known as Venture II, primarily focused on web3 and blockchain games.
The fresh round of investments will primarily support early-stage gaming projects. Dealstreet Asia has reported that around 15% of the funds have been allocated for projects in the Asian sector.
Jens Hilgers, one of the founding partners at Bitkraft Ventures, expressed the company’s interest in the next generation of studios, developers, and games. According to GamesBeat, the gaming industry witnessed a significant decline in revenues in 2023. However, web3 projects have experienced a remarkable recovery since the fourth quarter of the same year, which many analysts attribute to the resurgence of Bitcoin.
Carlos Pereira, a partner at Bitkraft Ventures, highlighted the strength of web3 gaming during the recovery in the fourth quarter of 2023. In an interview with Cointelegraph, Pereira mentioned that there has been positive launch activity in this segment, both recently and expected for 2024.
The significant size of Bitkraft Ventures’ latest funding round indicates a potential recovery in the private market. Pereira also mentioned that during times when capital for venture capital deals was scarce, it was expected to see some divergence between the public and private markets for gaming and media companies.