Bitkraft Ventures, a global investment platform that focuses on gaming and media projects, has recently announced the launch of a $275 million investment round. This new round of funding is expected to increase the company’s total assets under management to approximately $1 billion.
During its previous investment rounds, Bitkraft Ventures invested in notable companies like Jungle, a blockchain developer, and CCP, the creator of Eve Online. The company’s second funding round, called Venture II, primarily focused on Web3 and blockchain games.
The latest investment round will be directed towards early-stage gaming projects, with at least 15% of the funds earmarked for projects in the Asian sector, according to Dealstreet Asia.
Jens Hilgers, a founding partner at Bitkraft Ventures, expressed the company’s interest in the next generation of studios, developers, and games. He stated that despite a global decline in gaming industry revenues in 2023, Web3 projects have experienced a significant recovery since the fourth quarter of that year, which many analysts attribute to the rise of Bitcoin.
Carlos Pereira, a partner at Bitkraft Ventures, emphasized the strength of Web3 gaming during the Q4 2023 recovery, with positive launch activity both recently and expected for 2024, in an interview with Cointelegraph.
This latest funding round, which is Bitkraft Ventures’ largest to date, indicates that the private market has shown signs of recovery. Pereira also mentioned that there may have been some divergence between the public and private markets for gaming and media companies, especially when venture capital deals were not as abundant.