Bitkraft Ventures — a video games investor primarily based out of Denver, Colorado, however with European founders — has raised its third fund, coming in at $275 million. The fund will make seed and Collection A investments in gaming studios, and platforms to help sport manufacturing. The strikes comes at a time when video games investments have truly declined 72% yr on yr, in keeping with a latest Pitchbook report.
Based by video games trade veteran Jens Hilgers, Bitkraft has over 130 corporations in its portfolio, and greater than $1 billion in property below administration.
The VC is an investor within the Frost Big studio, which Hilgers appeared notably enthusiastic about.
“Frost Giant has set out to build a successor in the real-time strategy space. The team had previously been involved in building StarCraft and they’re now launching a game called Stormgate. It’s highly anticipated and has had great early reviews. That is a good example of the type of games company we invest in.”
Different investments embrace Anzu, an in-game advert platform; Carry1st, a cell gaming platform centered on Africa; InWorld, a social platform; Karate Fight, a martial arts league; and Immutable, the creator of the Gods Unchained crypto-based sport.
He mentioned the agency’s LP base is a mixture of household workplaces, and institutional funds, and confirmed a serious international sportwear participant as an LP, however was not at liberty to launch the title.
“The strategy we pursued with the second fund is about 30 to 35 companies, average ticket size about $4 million, 50% of the initial capital and 50% follow-on. That strategy has looked successful so far. We’re rated top decile in the latest Cambridge Associates ranking, and we’re happy with that performance,” he added.
Maybe one of the simplest ways of positioning Bitkraft is to check it to Play Ventures in Singapore which has raised $222.9M throughout 4 funds, but in addition invests throughout a number of varieties video games platforms.
