Berlin-based Bitkraft Ventures has raised $75 million in a fund that will invest in blockchain-related games and digital entertainment startups. Venture Beat writes about it.
The funding will go to firms at any stage of development, both in the form of share and token sales.
Bitkraft Ventures registered with the SEC as an investment adviser in June. Bitkraft Token Fund I will be led by Delphi Digital founder Pierce Kicks.
The entity has previously invested in six projects, including Yield Guild Games, Immutable, Alethea AI and Horizon Games. Bitkraft Ventures partner Jens Hilgers estimates that Bitkraft Token Fund I will provide funding to 25 more startups, including those operating on the Solana network, by the end of 2022.
As of October 1, Bitkraft Ventures had an AUM of $540 million and the portfolio spanned over 60 startups from North America, Europe and Asia.
As a reminder, the investment arm of Huobi Group has launched a $10 million fund to invest in GameFi projects.
In October, NFT game developer Axie Infinity raised $152 million from a16z and Paradigm. The startup's valuation reached $3 billion.
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