BITKRAFT Ventures Raises $165M to Invest in Gaming, Esports, and Interactive Media
San Francisco, CA, August 27, 2020 — BITKRAFT Ventures, a venture capital firm focused on gaming, esports, and interactive media, today announced the close of BITKRAFT Ventures Fund I at $165M, above the initial $125M target.
The BITKRAFT Ventures platform has distinguished itself as one of the most active investors in gaming and esports and 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 opportunities. 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 discretionary spending. Titles like Fortnite and Minecraft define modern pop culture and have become social networks and economies of their own.
Gaming, a $160B industry with a global audience of 2.7B gamers, already stands larger than music and film combined and is on track to surpass TV as the largest media category. In addition, COVID-19 has 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.
Led by industry veteran Jens Hilgers, founder and former CEO of ESL and co-founder of esports team G2 Esports, BITKRAFT has its roots in esports, but gradually expanded its investment scope to now fully cover gaming and interactive media. Co-founding general partners Malte Barth and Scott Rupp, as well as recently hired partner Moritz Baier-Lentz, round out the team in Los Angeles, San Francisco, London, and Berlin and collectively have more than 70 years of gaming entrepreneurship and investment experience.
The team’s early-stage investment focus in game studios, interactive platforms and horizontal technology is informed by the idea of Synthetic Realities®—BITKRAFT’s vision of a future that embraces the increasing convergence of the physical and digital worlds.
About BITKRAFT Ventures
BITKRAFT Ventures is a global early and mid-stage investment platform for gaming, esports and interactive media. Founded by esports veteran Jens Hilgers, BITKRAFT serves a global network that spans the industry’s most forward-thinking startups and founders working to build and operate the virtual worlds and economies of the future. The venture capital firm, which launched its first $18M Pre-Seed fund in 2017, now invests out of its $165M Venture Fund I and has made over 50 investments in new companies since its inception.
BITKRAFT’s experienced international team creates significant value through early candid partnerships, unparalleled domain expertise, entrepreneurial history, and a worldwide ecosystem of strategic partners.
Find out more about how BITKRAFT and its portfolio companies are pushing the boundaries of Synthetic Realities® by visiting https://www.bitkraft.vc/vision.