London: BITKRAFT Ventures, a venture capital fund focused on gaming, esports, and interactive media, today announced the close of BITKRAFT Venture Fund I at around €139.5 million, above the initial €105.8 million target.
The firm is a global early and mid-stage investment platform for gaming, esports and interactive media. Founded by esports veteran Jens Hilgers, BITKRAFT supports the industry’s most forward-thinking founders working to build the virtual worlds and economies of the future.
So far, the BITKRAFT Ventures platform has received backing from a broad, global investor base, including Carolwood, the family office of Bruce Karsh; Declaration Partners, the investment firm backed by the family office of David M. Rubenstein; JS Capital, the investment firm of Jonathan Soros; as well as corporate investors such as adidas, WPP, Advance, and Logitech.
“We are grateful to our investors for their confidence in our team’s ability to identify talent, trends, and opportunities in the gaming and esports space. At BITKRAFT, we don’t just support forward-thinking entrepreneurs with capital, but also provide experience, resources, and our global network. While we are living in challenging times, our industry is experiencing strong tailwinds and unprecedented opportunity. There is no better time for BITKRAFT to invest,” said Jens Hilgers, BITKRAFT Ventures founding general partner.
A growth megatrend still in its early innings, video games continue to gain share of consumer entertainment time and spending. The current pandemic has also brought significant additional growth, as well as a newfound societal appreciation for video games as a form of social connectivity beyond physical barriers.
BITKRAFT launched its inaugural Pre-Seed Fund in 2017, and including this newly closed Venture Fund, has built a portfolio spanning more than 50 companies across North America, Europe, and Asia.