Gaming and esports investment platform Bitkraft VC has launched a $75 million investment fund that will focus on digital entertainment and blockchain gaming, VentureBeat reported on 8 October.
According to the post, the new Bitkraft fund — which will not only focus on equity investment, but on cryptocurrencies and NFTs too — will invest in companies and startups at any stage of development. The company was able to receive an investment advisor registration from the Securities and Exchange Commission back in June, enabling it to provide regulated investment opportunities.
While fairly new, the fund has already closed six investment deals, and is supporting projects such as Yield Guild Games (YGG), Immutable, Alethea AI and Horizon Games. While the fund has currently invested mainly in projects building on Ethereum, it could soon turn to other blockchains. Piers Kicks, who leads Bitkraft’s investment efforts into crypto, said in a statement:
“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.”
The blockchain-based gaming market is slowly gaining traction, with more and more companies setting up investment funds focused around it. Last month, the investment arm of Huobi Globul launched a $10 million fund that will focus on projects combining DeFi features with gaming (GameFi).