• Contact Us
  • Privacy Policy
Thursday, February 25, 2021
mustlovevideogames.com
  • News
  • Esports
  • Guides
  • Gear
  • Videos
No Result
View All Result
Must Love Video Games
  • News
  • Esports
  • Guides
  • Gear
  • Videos
No Result
View All Result
Must Love Video Games
No Result
View All Result

BITKRAFT Ventures Raises $165 Million in Funding for Video Game Investment

August 27, 2020
in Esports
2 min read
Home Esports
Share on FacebookShare on Twitter

Bitkraft Ventures has raised $165 million for their fund, a hefty $40 million over the initial goal.


BITKRAFT is a venture capital fund that focuses on gaming, esports, and interactive media. They began Pre-Seed Funding back in 2017 and have since consistently built up a network of over 50 companies. The limited partners in the Bitkraft fund, include Carolwood, the family office of Bruce Karsh; Declaration Partners, the investment firm backed by the family office of David Rubenstein; JS Capital, the investment firm of Jonathan Soros; as well as corporate investors such as Adidas, WPP, Advance, and Logitech.

A New Venture in Gaming

Jen Hilgers, BITKRAFT Ventures founding partner, stated that “We are grateful to our investors for their confidence in our team’s ability to identify talent, trends, and opportunities in the gaming and esports space. At BITKRAFT, we don’t just support forward-thinking entrepreneurs with capital, but also provide experience, resources, and our global network. While we are living in challenging times, our industry is experiencing strong tailwinds and unprecedented opportunities. There is no better time for BITKRAFT to invest,” Jen Hilgers was the former CEO and founder of ESL, a major esports organization that hosts the world’s largest CS: GO events.

Gaming is constantly growing and evolving, emerging in more mainstream markets than ever before. The newfound growth has brought forth even more innovation in how gaming can become profitable, and innovative. Initially, the investment firm focused on game studios such as Playable Worlds and Manticore games but has since expanded. BITKRAFT Ventures led the Series A financing round for a company named Gamezop, which accrued $4.3 million in investment. Gamezop focuses on embedding HTML5 games into web browsers and mobile apps to improve engagement and generate ad revenue. Gamezop CEO and Co-Founder Yashash Agarwal explained that “Embedded games are developed on HTML5 and work seamlessly within apps that integrate our games platform. The thought process was to add tangible value for all stakeholders in the model: our partner apps see a 40% jump in engagement time after they add us. In addition, we share 50% of the revenue we make with them. For us, it means piggybacking on the distribution network of our partner apps, and acquiring users with zero spending.”

Companies are placing financial backing to emerging gaming companies, only validating what gamers have known for a long time. Gaming is a 160 billion dollar industry that has transcended the image of stale basements and poor hygiene. Firms such as BITKRAFT make it possible for small organizations and companies to get their ideas off the ground.

The post BITKRAFT Ventures Raises $165 Million in Funding for Video Game Investment appeared first on Esports News Network | ESTNN.

Credit: Source link

Previous Post

Unknown 9: Awakening Revealed - Game Informer

Next Post

Bridge Constructor: The Walking Dead Announced

Next Post
Bridge Constructor: The Walking Dead Announced

Bridge Constructor: The Walking Dead Announced

World of Warcraft Classic Leveling Guide

wow warcraft alliance horde cataclysm leveling guide

Recent Posts

  • Uzi Has Officially Parted Ways With RNG
  • Report: Sony Is Scaling Back Its Japan Studio, Letting Go Of Majority Of Staff
  • 7 Aniversarios importantes en Videojuegos
  • TL, NRG, T1 Reload Rosters For Last Chance At Masters
  • GI Show – Bravely Default II, Ghosts ‘n Goblins Resurrection, And Noclip’s Danny O’Dwyer
Must Love Video Games

MustLoveVideoGames.com is an online news portal which aims to provide latest gaming updates direct from market with your desired taste!

Whats New Here?

  • Uzi Has Officially Parted Ways With RNG
  • Report: Sony Is Scaling Back Its Japan Studio, Letting Go Of Majority Of Staff
  • 7 Aniversarios importantes en Videojuegos
  • Contact Us
  • Privacy Policy

© 2020 MustLoveVideoGames.com - All rights reserved!

No Result
View All Result
  • News
  • Esports
  • Guides
  • Gear
  • Videos

© 2020 MustLoveVideoGames.com - All rights reserved!