eSports
BITKRAFT Ventures Launches New $275M Venture Fund, Continues to Invest in Early-Stage Gaming and Interactive Media Startups Globally
Once closed, this fund will bring BITKRAFT Ventures’ total assets under management to over $1 billion
BITKRAFT Ventures, one of the leading global games investment platforms, has announced the filing of BITKRAFT Venture Fund 3, a $275 million fund dedicated to driving early-stage investments in gaming and interactive media companies. Serving as the successor to their two Early Stage Equity Venture Funds, BITKRAFT Venture Fund 3 will continue to invest in studios, platforms, and technology globally within the gaming and interactive media space at the Seed and Series A stages. Once closed, this milestone launch will bring BITKRAFT Ventures’ total assets under management to over $1 billion.
Grounded in its vision of synthetic reality, BITKRAFT believes in the transformative power of digital experiences, shaping the future of entertainment. With a core belief that humanity is increasingly immersing itself in digital realms, BITKRAFT recognizes game companies as central to this development, driving the evolution of digital entertainment. Founded by seasoned entrepreneurs and builders in the games ecosystem, BITKRAFT has grown from a small team to over 25 professionals distributed globally, with a presence in key markets in Asia, Africa, Europe, and North America.
âAt BITKRAFT Ventures, we are as committed to â and optimistic about â the future of the games industry as we were from the inception of BITKRAFT in 2016. We’ve seen continued growth across all major game platforms, in metrics including user engagement, activity levels, and monetization,” says Jens Hilgers, Founding General Partner at BITKRAFT Ventures. “Newly formed game studios have seen substantial break out successes over the last years, and the advent of AI in game production further benefits new upstarts in the space. Additionally, we have witnessed increased interest in game content beyond incumbents from media and tech giants, as well as private equity firms entering the landscape of potential buyers further expanding the exit landscape.â
BITKRAFT Ventures has strategically invested in various stages in a global roster of well-known companies including Frost Giant, a studio dedicated to bringing back real-time strategy; Anzu, an in-game advertising platform revolutionizing the gaming industry; Carry1st, a mobile gaming platform focused on serving the African market; InWorld, a social platform merging the digital and physical worlds; Voicemod, a voice modulation software empowering content creators; Immutable, the creators of the popular blockchain game Gods Unchained; and Karate Combat, an innovative martial arts league bringing high-octane combat sports to global audiences.
BITKRAFT Ventures’ funds exhibited noteworthy performance, as documented by the Cambridge Associates Benchmarking Data Report 2023. BITKRAFT’s inaugural Web 3 fund achieved a top 5% ranking, while its second Venture Fund secured a position in the top 8% of all funds based on Internal Rate of Return (IRR).
eSports
CREAM CITY CONVERGENCE ESPORTS TOURNAMENT SELECTED AS CAPCOM PRO TOUR EVENT
Bucks Gamingâs Cream City Convergence Esports Tournament has been selected as a Capcom Pro Tour event, becoming one of just three tournaments in North America chosen to be a qualifier for the prestigious Capcom Cup.
The Capcom Cup is an annual Street Fighter 6 competition, hosted by video game developer and esports organizer Capcom, with a $1 million first place prize. Each year, Capcom selects a small number of tournaments worldwide to serve as Capcom Pro Tour events, with the winning players from each event qualifying for the Capcom Cup. As one of the tournaments selected by Capcom for the honor this year, Cream City Convergence will become the first esports event run by an NBA team to work with a major esports organizer.
Top-ranked Street Fighter 6 players will compete at Cream City Convergence when it returns for its second year on Saturday, Aug. 24, at Baird Center. In addition to Street Fighter 6, this yearâs tournament will also have brackets for Tekken 8; Super Smash Bros Ultimate; Super Smash Bros Melee; and Guilty Gear: Strive.
eSports
Gen.G Acquires League of Legends Data Analytics Platform YOUR.GG
Global esports organization Gen.G announced their acquisition of YOUR.GG, a data analysis and networking platform for League of Legends players. This partnership comes as a new method for Gen.G to enhance the Gen.G Global Academy experience for students in the program. Gen.G is the first global esports academy equipped with such advanced analytical tools to help expand their offering to players looking to improve their game to a professional level.
âOver the last few years, weâve been hard at work pioneering what is now the worldâs largest esports academy. With over 10,000 students having gone through our curriculum, we see the clear need to develop better tools that gamers, coaches, and parents need to create the best gamers possible. YOUR.GGâs best-in-class data, technology and analytics combined with millions of hours of our professional and academy student coaching will be able to unlock the next generations of esports tools that can help realize the true potential of every student and pro in our program,â Arnold Hur, CEO of Gen.G, said.
This acquisition underscores the importance of data and analytics in developing and refining esports talent, a core principle at Gen.G. YOUR.GG will power both its pro team players and its academy students with data-driven tools and reports to foster growth and provide better insight into scouting for new talent.
âWe plan to pioneer a shift in how talent is developed and measured in esports. By developing a tool that will bring a level of analysis and precision to esports that mirrors the most sophisticated training environments in traditional sports. We want to take a holistic approach to measure not just the data within the game, but how a student responds to coaching and feedback,â Min Chang Cha, Founder of YOUR.GG and current VP of Technology at Gen.G, said.
eSports
Motorsport Games Launches RaceControl.gg and Announces Partnership with Coach Dave Academy
Motorsport Games Inc., a racing game developer and esports ecosystem provider, announced the launch of RaceControl.gg, a new dedicated platform designed to enhance player engagement with the latest news, updates, tips, and tricks its most recent game, Le Mans Ultimate. As part of this exciting initiative, Motorsport Games has partnered with Coach Dave Academy (Speed Capital Ltd) to manage the content and development of RaceControl.gg.
Under this partnership, Coach Dave Academy (CDA), renowned for their expertise in creating car setups in racing simulations, will curate and manage the content on RaceControl.gg, ensuring fans and players have access to the most relevant and useful information. CDA will further contribute to the Le Mans Ultimate gaming experience by providing new and optimized car setups directly in the game in a future update – allowing players to enhance their performance on the track.
Stephen Hood, CEO of Motorsport Games, commented on the launch and partnership: âWe are excited to unveil RaceControl.gg as a brand-new destination for Le Mans Ultimate lovers, in collaboration with Coach Dave Academy. This platform is not just a news site; itâs a comprehensive resource that will grow, with time, to include live schedules and account functionalities to boost game engagement even when players are not logged into the app. Our partnership with Coach Dave Academy ensures that the site will be managed by the best in the business, enhancing the game experience with top-tier content and cutting-edge racing setups.â
Dave Perel, Founder of Coach Dave Academy, said: âWe are thrilled to announce our collaboration with Motorsport Games on RaceControl.gg and our contribution of setups for Le Mans Ultimate. This partnership marks a significant milestone for us, underscoring our broad expertise in the sim racing domain. Weâve built our reputation on delivering first-class setups and tutorials. Weâre excited to bring this proven formula to the Le Mans Ultimate player base, enhancing their gaming experience with the same dedication and quality that have been key to our success. Together with Motorsport Games, we are committed to enhancing the user experience, providing both novices and seasoned players with the tools they need to succeed on the track.â
The launch of RaceControl.gg and partnership with CDA marks a significant step forward in Motorsport Gamesâ strategy to expand the accessibility and visibility of Le Mans Ultimate and its RaceControl service beyond the traditional game environment. This initiative is designed and expected to create a more connected and engaged community around the game, providing a dynamic platform that evolves with the needs of its users.
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