Bitkraft Ventures raises $165 million to invest in games

Bitkraft Ventures, a venture capital fund focused on esports, gaming, and interactive media, has raised $165 million for its fund, surpassing its original target of $125 million. Led by founding general partner Jens Hilgers, Bitkraft Ventures has been one of the most active investors in games and esports in the past few years, and this fund may be the biggest so far.

The value of tracked game investments for the second quarter was four times higher in the second quarter of 2020, compared to the prior quarter, while the volume increased 18%, according to market analyst DDM. Q2 2020’s 86 investments reached $3.8 billion and brought the total for the first half of 2020 to nearly $4.7 billion. Meanwhile, acquisition deals were up in Q2 as well. That data is the backdrop for why Bitkraft raised more money than was expected and why it is one of the most active investors in games and esports.