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Bitkraft did not wish to speak directly on the document filed with the SEC, but clearly outlines its strategy for investing in cryptocurrencies.
Bitkraft: investment specialist in gaming and web3
Bitkraft, a venture capital firm specializing in gaming, has raised more than $220 million for its second investment fund. According to a document filed March 30 with the U.S. Securities and Exchange Commission (SEC), the total target was set at $240 million. Last week is Fetch.ai which announced to raise funds up to 40 million dollars!
Bitkraft had launched a similar investment fund in October 2021 with $75 million in committed capital. At that time, the company was already looking to invest in blockchain games and digital entertainment in general. Regarding the new fund, she did not comment on the nature of the investment mandate, but partner Carlos Pereira opened up about the firm’s investment strategies during an interview with CoinDesk.
Esports and Web2 investment firm @BitkraftVC has grown into an active Web3 backer. Partner @cegapereira outlined the firm’s crypto strategy during an interview with CoinDesk. @BrandyBetz reportshttps://t.co/YDJyGyjLY7
— CoinDesk (@CoinDesk) April 6, 2023
Founded in 2016 by gaming and esports specialist Jens Hilgers, Bitkraft focuses on investing early-stage (at the start-up stage). Of the seed up to the Serie B, it finances development studios, gaming platforms and invests globally in all gaming-related technologies (both on Web2 and Web3).
Bitkraft has grown to approximately $600 million in assets under management (with a third dedicated to Web3 opportunities) and has the status of licensed investment adviser. To date, the company has a 4 different funds: a venture capital fund focused on esports, a general venture capital fund and two funds dedicated to cryptocurrencies. Carlos G. Pereira, Partner at Bitkraft, said:
We are above all investors in the field of gaming. Our mining and investing experience goes back long before the web3 hype that was present during the previous bullrun. In the web2 we focus on guarantees of several successful games thanks to the tools we have. In the field of crypto and with the experience we have as players, we want to see the economic aspects evolve.
Bitkraft’s investment strategy
Mr. Pereira explains that the arrival of Bitkraft in the sector of crypto game was driven by the team’s experience as players rather than a desire to cash in on the boom that took place in 2021. At that time, some games like Axie Infinity made mainstream headlines and made a lot of money.
Bitkraft has a history of funding Web2 development studios that build complex and detailed environments. The company wants to do the same for web3 and is looking for similar projects. The company favors developers who have above-average experience, often gained over decades of experience in Web2 studios.
🤝🚀🎙️On the heels of the recent partnership announcement between two of BITKRAFT’s partners in the Web3 gaming space – @Immutable and @0xPolygonLabs – we encourage you to listen to @0xferg and @sandeepnailwal discuss how they got here, and where they’re https://t.co/U86JSvSsZj… pic.twitter.com/o4Tm9CMiP5
— BITKRAFT Ventures (@BitkraftVC) March 31, 2023
Recent Bitkraft investments include CCP Gamesthe studio that develops Eve Online, and Jungle, a mobile and web3 focused development studio. The company’s investments are made through a combination: the purchase of studio shares and tokens of the game it is developing (when it is a blockchain game and there are associated tokens ). According to Mr. Pereira:
Finding a business model that works and allocating that value between stocks and tokens is key. If we own both the shares and the tokens, we can design a game that maximizes value creation through primary sales and maximizes value creation through secondary sales.
Source : SEC document, bit power
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