BITKRAFT Ventures

BITKRAFT Ventures Research Investment Thesis BITKRAFT Ventures is a global investment platform specializing in what they call "Synthetic Reality"—the convergence of physical and digital worlds. Driven by video games, gaming technology, Web3/blockchain, and AI, BITKRAFT invests in companies building the infrastructure and experiences that will define how humans interact, play, and work in immersive digital environments. Founded in 2015 by Jens Hilgers (who previously founded esports giant ESL), BITKRAFT has evolved from a gaming-focused fund to a broader "Synthetic Reality" thesis encompassing gaming studios, interactive media platforms, AR/VR experiences, generative AI, and Web3 technologies. Sector Focus BITKRAFT invests exclusively across gaming and emerging technology sectors: Gaming Studios & Platforms: PC/console game studios (e.g., Frost Giant, Theorycraft Games) Mobile game developers across all genres User-generated content (UGC) platforms Esports and competitive gaming infrastructure Interactive Media & Technology: AR/VR and spatial computing experiences Generative AI for gaming and media Social platforms and virtual worlds Web3/blockchain gaming and NFT platforms Gaming Infrastructure: In-game advertising (Anzu) Game development tools and middleware Live operations and analytics platforms They explicitly avoid non-gaming consumer apps, traditional SaaS outside gaming/tech, and pure hardware plays. Stage Focus BITKRAFT focuses on early-stage investments with the following strategy: Seed: Initial capital for teams with prototypes or early traction Series A: Scaling capital for companies with product-market fit Series B: Selective follow-on investments for breakout portfolio companies Average ticket size is approximately $4M. They prefer to be the first institutional investor and typically lead or co-lead rounds. Check Size Typical investment range: $1M - $10M Seed: $1M-$3M Series A: $3M-$7M Series B: Up to $10M+ According to PitchBook data, BITKRAFT was the most active VC investor in gaming globally in 2020, 2021, and 2022. Recent Activity Fund Status: BITKRAFT Venture Fund III ($275M, closed April 2024) is actively deploying. Total AUM exceeds $1 billion across six specialized funds. Recent Investments (2024-2025): December 2024: StockGro (Series B) - social trading and gaming platform July 2025: Circle Games ($7.25M Seed) - Turkish mobile gaming studio 2025: Karate Combat ($18M) - martial arts sports league (led by BITKRAFT) Ongoing active deployment across gaming, Web3, and AI verticals Fund Status: Actively deploying from Fund III. The firm has made 15+ new investments in the last 12 months. Portfolio Highlights Unicorns (3): Higgsfield - AI gaming technology (most recent unicorn status) Magic Eden - NFT marketplace and Web3 platform Immutable - crypto-based gaming (Gods Unchained) Notable Exits & Acquisitions: CCP Games (acquired) Multiple portfolio companies acquired by major gaming publishers Active Portfolio Companies (130+ total, spanning 6 continents): Theorycraft Games - PC gaming studio Frost Giant - Real-time strategy studio (Stormgate) Anzu - In-game advertising platform InWorld AI - AI NPCs and social gaming platform Karate Combat - Martial arts sports league Yield Guild - Web3 gaming guild Wagr - Social sports betting platform Volley - Voice-controlled gaming Voicemod - Voice modulation technology Vermut - Crypto/gaming Carry1st - African mobile gaming platform 1UP - Indie game developer fund Team Leadership: Jens Hilgers, Founding General Partner: Founded ESL (esports) in 2000, acquired by Modern Times Group in 2015. 30+ years in gaming and esports. Based in Berlin, Germany. Scott Rupp, Founding General Partner: Interactive entertainment entrepreneur and operator with 20+ years experience. Based in Denver, Colorado (HQ location). Malte Barth, Founding Partner: Media, games, and esports leader for 20+ years. Based in Cascais, Portugal. Jasper Brand, Partner: Founding team member, identifies new opportunities. Based in Los Angeles. Carlos Pereira, General Partner: Leads crypto/Web3 strategy. Gaming and interactive entertainment background. Martin Garcia, General Partner/CFO: Operational and financial leadership across 20+ countries. Investment Team (30+ total across 6 continents): Jonathan Huang (Partner, Asia) - Singapore-based Anuj Tandon (Partner, India/MENA) - Pune-based Dennis Fong (Venture Partner) - "Thresh," world's first pro gamer, $1B+ in exits Philip Camilleri (CTO) - Founded SmartAsset (YC S12) Multiple Associates, Principals, and Analysts supporting global deal flow Decision Process: Partnership model with regional leads (Asia, India/MENA, Crypto, Equity). decentralized decision-making with local expertise driving initial diligence. Geographic Focus Global with regional specialization: North America: Denver (HQ), San Francisco, Austin, New York Europe: Berlin (Germany), London (UK), Cascais (Portugal), Madrid (Spain), Cologne (Germany) Asia: Singapore, Mumbai/Pune (India), Seoul Other selective investments in Turkey, Africa via Carry1st BITKRAFT's India Fund specifically targets the rapidly growing Indian gaming market, which is projected to reach $8B by FY2030. Founder Preferences BITKRAFT seeks: Domain Expertise: Founders with deep gaming/interactive media background Proven Track Record: Ex-gaming industry professionals from established studios Technical Excellence: Strong technical and creative capabilities Global Vision: Founders thinking beyond single markets to global opportunities Operator DNA: Founded by gamers for gamers—prefers entrepreneurs who understand gaming culture Anti-Thesis: BITKRAFT avoids: Non-gaming consumer apps Traditional SaaS without gaming/tech angle Pure hardware plays Founders without gaming/interactive media domain experience