BitKraft Ventures just launched a $275 million gaming fund for early investments in interactive media and gaming companies. It is the third fund, using which the firm will invest in various studios and platforms at the seed and Series A stage.
After its closing, the total assets under BitKraft management will be over $1 billion. Earlier in the week, Laton Ventures secured a $35 million funding. This makes the new BitKraft Ventures fund the second VC fund in a week.
Regarding this new VC fund, the CEO of BitKraft Ventures, Jens Hilgers said in an interview, “What we’re particularly proud of with BITKRAFT is that we’ve built a fantastic culture that resonates well with founders because we are straightforward, honest people that have been in the trenches.”
He further added that BitKraft Ventures is very optimistic about the future of Web3 games, and implied that the firm has come a long way since its creation in 2016.
The Difficulty of Raising the Third BitKraft Ventures Fund
The CEO mentioned in the interview that it was quite difficult to raise the first fund because investors had to become comfortable with the gaming business. Hence, it was a challenge to prove to the investors that Jens and his team can make great investments in gaming companies.
Regarding the third fund, he said, “certainly the most difficult one to get on the ground. There’s no question about it.”. That is because this time around, the challenges were different from the first time.
Now, the capital is much more expensive than the past. At the same time, inflation and high interest rates are also plaguing the financial markets. However, Jens clarified that the gaming industry has already proven its potential for growth. Hence, it was not hard to get the investors excited about it.
Conclusion
Jens Hilgers has further mentioned that he anticipates that going forward, the gaming industry may face the challenge of using AI to improve the production and development process. He also mentioned the various ways AI can be used to improve gaming, such as reducing toxicity in online games.
