Bitkraft Esports Ventures will invest in esports startups

Bitkraft Esports Ventures, an early stage investor and incubator exclusively focused on the competitive gaming sector, has launched what it calls the world’s first pro gaming-specific fund.

Based in Berlin and Los Angeles, Bitkraft Esports Ventures has raised €18 million, or $19.6 million, to invest in and incubate esports startups. The company hopes to hit a final close of €30 million, or $33 million, and it will invest €100,000 to €400,000 ($109,000 to $436,000) in each startup. Esports will generate as much as $696 million in revenues this year, according to a market report from intelligence firm Newzoo, and a host of companies (including pro sports teams) are eager to invest into the sector.