Bitkraft VC launches $75M investment fund for blockchain gaming

E-sports, gaming and interactive media investment platform Bitkraft VC has established a $75 million token fund for investing in blockchain gaming and digital leisure.

The fund makes use of a “stage-agnostic” technique, which means that it’ll put cash in firms and startups at any business growth stage. Apart from fairness investment, the token fund will even spend money on cryptocurrencies and nonfungible tokens (NFTs).
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In order to offer regulated investment alternatives, Bitkraft received an investment advisor registration from the United States Securities and Exchange Commission in June 2021.

The new token fund is led by Piers Kicks, a founding companion within the investment arm of crypto research firm Delphi Digital. Kicks joined Bitkraft earlier this 12 months to steer the corporate’s investment efforts in crypto and NFTs.

Bitkraft said that the fund has already closed six investments together with initiatives like Yield Guild Games (YGG), Immutable, Alethea AI and Horizon Games. Both YGG and Alethea are direct token investments, Kicks advised Cointelegraph. “We were only able to announce the funding after final closing, but have been actively deploying from it,” he added.

While the fund has primarily invested in startups constructing on the Ethereum blockchain, Kicks said, “We adopt a chain-agnostic approach and assess each project on a case-by-case basis. We are beginning to see some exciting activity on Solana, and will be closely monitoring early gaming projects in that ecosystem.” 

Related: Axie Infinity developer secures $152M in Series B funding from investors

According to Bitkraft Ventures founding normal companion Jens Hilgers, the fund is trying to spend money on about 25 extra firms by the top of 2022. The enterprise capital agency has greater than $540 million in belongings beneath administration as of Oct. 1, 2021, with a portfolio spanning greater than 60 firms throughout North America, Europe and Asia.

The gaming trade has proved ripe for crypto adoption, with many new use instances for decentralized finance (DeFi) and NFTs. Blockchain game Axie Infinity has emerged as probably the most in style Ethereum-based NFT video games this 12 months, with its native token AXS reaching a brand new all-time excessive above $155 on Monday. In September, blockchain gamification platform DeFi Land raised $4.1 million to launch a brand new DeFi game on Solana.