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Bitkraft Ventures<\/a> \u2014 a games investor based out of Denver, Colorado, but with European founders \u2014 has raised its third fund, coming in at $275 million. The fund will make seed and Series A investments in gaming studios, and platforms to support game production. The moves comes at a time when games investments have actually declined 72% year on year, according to a recent Pitchbook report<\/a>.<\/p>\n Founded by games industry veteran Jens Hilgers, Bitkraft has over 130 companies in its portfolio, and more than $1 billion in assets under management.<\/p>\n The VC is an investor in the Frost Giant studio, which Hilgers seemed particularly excited about.<\/p>\n \u201cFrost Giant has set out to build a successor in the real-time strategy space. The team had previously been involved in building StarCraft and they\u2019re now launching a game called Stormgate<\/a>. It\u2019s highly anticipated and has had great early reviews. That is a good example of the type of\u00a0 games company we invest in.\u201d<\/p>\n Other investments include Anzu, an in-game ad platform; Carry1st, a mobile gaming platform focused on Africa; InWorld, a social platform; Karate Combat, a martial arts league; and Immutable, the creator of the Gods Unchained crypto-based game.<\/p>\n He said the firm\u2019s LP base is a mix of family offices and institutional funds, and confirmed a major global sportwear player as an LP but was not at liberty to release the name.<\/p>\n \u201cThe strategy we pursued with the second fund is about 30 to 35 companies, average ticket size about $4 million, 50% of the initial capital and 50% follow-on. That strategy has looked successful so far. We\u2019re rated top decile in the latest Cambridge Associates ranking, and we\u2019re happy with that performance,\u201d he added.<\/p>\n Perhaps the best way of positioning Bitkraft is to compare it to Play Ventures in Singapore, which has raised $222.9 million across four funds but also invests across several types games platforms.<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n