US-based venture investor Bitkraft Ventures, renowned for supporting gaming studios, platforms, and related technologies, is ramping up its presence in India. The firm has appointed Anuj Tandon, former CEO of gaming at JetSynthesys, as its partner in the Indian market. Tandon brings extensive experience, having previously led investment initiatives for South Korean gaming giant Krafton in India.
Bitkraft Ventures recently launched its third fund with a corpus of $275 million, aimed at early-stage companies. Tandon revealed that the structure for Bitkraft’s investments in India is still being finalised. The firm plans to develop a comprehensive strategy tailored to the Indian market in the coming months.
“We have the main Bitkraft Ventures Fund-III and a $100 million opportunities fund focused on Series B investments. Our goal is to explore deals across early stages in gaming and interactive media, particularly in emerging markets like India, which presents a thrilling opportunity,” said Tandon.
India’s gaming and interactive media sector is at a pivotal stage, marked by macroeconomic tailwinds, increasing liquidity, and the emergence of second-time founders. These factors are creating a conducive environment for capital allocation and quality entrepreneurial ventures.
Bitkraft has already backed several Indian startups, including StockGro, an investment education and trading simulation platform; Lila Games, a mobile game development firm; and GameZop, a smartphone gaming platform.
India’s online gaming market is among the fastest-growing globally. A recent PwC report highlights that the sector is projected to grow at a compound annual growth rate (CAGR) of 14.5% between 2023 and 2028, nearly double the global average.
Other major players are also eyeing the Indian gaming ecosystem. Krafton Inc announced plans in August 2023 to invest $150 million in Indian startups over the next two to three years. Additionally, Lumikai, a venture capital firm specializing in gaming and interactive media, reported earlier this year its intent to close 10-12 early-stage investments through its $50-million India Fund-II.
Jens Hilgers, Bitkraft’s founding general partner, emphasized the strategic importance of Tandon’s role. “Our ambition is to visibly increase our activity and capital deployment in India. Anuj’s experience and deep network in the Indian gaming and entertainment industry are crucial in identifying and collaborating with the country’s most exceptional entrepreneurs,” Hilgers stated.
Hilgers further stressed that Bitkraft’s India focus goes beyond merely having local representation. “It’s about understanding the unique market dynamics, consumer preferences, and the nuances of design, product development, and financing in the region,” he added.
With India’s gaming and interactive media landscape poised for rapid growth, Bitkraft’s intensified efforts signal confidence in the market’s potential and its role in shaping the global gaming industry.
