Gaming VC Bitkraft has raised $221 million in its second token fund. As per its SEC filing, the goal for this funding was set at $240 million, out of which $220.6 million was efficiently raised.
Bitkraft didn’t disclose extra particulars on this funding. Nonetheless, accomplice Carlos Pereira shed some mild on the agency’s funding technique in an interview with Coindesk.
Pereira talked about that its funding in web3 had extra to do with the groups’ expertise as players relatively than the play-to-earn growth.
“We’re gaming traders, before everything, with an working and investing background that precedes the web3 gaming bull,” he stated.
“We’re centered on underwriting nice video games with the instruments that now we have. Now in crypto, with the expertise that now we have as gamers, we wish to see the financial rails evolve.”
Based in 2016, Bitkraft funded esports firms and sport builders and now could be trying to do the identical for web3 video games. Not too long ago, the agency invested in CCP Video games, the developer of EVE On-line and cellular sport studio Jungle.
Again in October 2021, Bitkraft raised $75 million for its first token fund. Since then, the agency has backed initiatives like Blocklords, Block Born, YGG, Vibrant Star Studios (Ember Sword), Cyball, Civitas, Immutable, Horizon Blockchain Video games and MetalCore.