糖心视频

closed its new fund after raising $165 million, some $40 million above its initial target of $125 million, the company said Thursday.

Subscribe to the Crunchbase Daily

The San Francisco-based venture capital firm, founded in 2017, is focused on gaming, esports and interactive media. It has already invested in 32 companies from the fund, BITKRAFT said via email. Those include recent investments in , , and , a multi-game platform that announced on Wednesday a BITKRAFT-led $4.3 million Series A financing round that also included participation from , and .

BITKRAFT鈥檚 fund, BITKRAFT Ventures Fund I, is backed by entities including the family office of , and .

on a in June that gaming is a $160 billion industry with a global audience of 2.7 billion gamers. The report also said that the gaming industry may be recession proof, showing an increase of nearly 50 percent in daily active users of HD games due to COVID-19.

With this new fund, and BITKRAFT鈥檚 inaugural Pre-Seed Fund launched in 2017, the firm has built a portfolio spanning across North America, Europe and Asia.

鈥淎t BITKRAFT, we don鈥檛 just support forward-thinking entrepreneurs with capital, but also provide experience, resources, and our global network,鈥� said BITKRAFT Ventures founding general partner, in a written statement. 鈥淲hile we are living in challenging times, our industry is experiencing strong tailwinds and unprecedented opportunities. There is no better time for BITKRAFT to invest.鈥�

Illustration: iStock