Bitkraft Ventures, one of the biggest investors in game and esports startups, has launched a $75 million token fund that will be used to invest in blockchain gaming and digital entertainment. Using a “stage-agnostic” strategy, the fund invests in startups and businesses at any stage of development. Apart from equity investment, the token fund will also invest in cryptocurrencies and nonfungible tokens (NFT).
It will invest in both tokens (cryptocurrency or nonfungible tokens, or NFTs) and equity across the fast-growing space. Bitkraft said it has ensured a robust regulatory setup by becoming a Registered Investment Advisor with the Securities and Exchange Commission.
Bitkraft received an investment advisor registration from the Securities and Exchange Commission in June 2021 in order to provide regulated investment opportunities. Piers Kicks is a founding partner of the investment arm of crypto research firm Delphi Digital and is leading the new token fund. Kicks joined Bitkraft earlier this year to lead the company’s crypto and NFT investment efforts.
In addition to Yield Guild Games (YGG), Immutable, Alethea AI, and Horizon Games, Bitkraft reported that the fund had closed six investments. It’s a direct investment for YGG and Alethea, Kicks said. “We were only able to announce the funding after final closing but have been actively deploying from it,” he added.