BITKRAFT Ventures, a leading esports venture capital fund, announced has raised a total of $165 million £125 million) to invest across esports, gaming, and interactive entertainment.
The BITKRAFT Venture Fund I closed above its original target of $125 million (£94.7 million), thanks to contributions from a wide array of investors, including investment firms and corporate investors.
RELATED: BITKRAFT Esports Ventures brings in Moritz Baier-Lentz as partner
Jens Hilgers, Founding General Partner of BITKRAFT Ventures, commented in a release: “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.”
According to a release, BITKRAFT Venture Fund I was backed by investment firms including Carolwood, Declaration Partners, and JS Capital, as well as corporate investors adidas, Logitech, Advance, and WPP.
RELATED: BITKRAFT and Roundhill Investments to launch dedicated esports ETF
BITKRAFT originally launched with a pre-seed round in 2017 and has since amassed a portfolio of more than 50 companies across Europe, North America, and Asia. Those companies include Epic Games, H4X, VENN, FanAI, Epics.gg, and Anzu.io.
Hilgers is the co-founder and former CEO of ESL, and is the co-founder and Chairman of G2 Esports. His fellow BITKRAFT Founding General Partners, Malte Barth and Scott Rupp, both have experience with ESL and DreamHack parent company Modern Times Group (MTG), among others. Earlier this year, BITKRAFT added former Goldman Sachs VP Moritz Baier-Lentz as a partner.
Esports Insider says: BITKRAFT is already the most notable esports-centric VC out there, and $165 million can go a long way towards fueling startups and investing in the future of more established companies. It will be exciting to see which companies join the BITKRAFT portfolio next thanks to this sizable war chest.
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Read the original post: BITKRAFT Ventures raises 5M for esports, gaming investments
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