Included VC ‘23 — Insights by Jens Hilgers, Bitkraft Ventures

Back to school 👩‍🏫! Most young individuals found themselves ushered back into the classroom this past Friday. Yet, in my case, I’ve been back in the school of venture capitalism since early June, embarking on a journey with Included VC.

(If you missed my Included VC announcement post on Linkedin, click here.)

It’s been an eye-opening fellowship, featuring workshops led by top figures in global venture capital.

With my VR/AR background and Web3 interest, one session in mid-June stood out. It was led by Jens Hilgers, Founding General Partner of BITKRAFT Ventures. Originally an Esports-focused platform, Bitkraft Ventures has expanded into Gaming and Interactive Entertainment. So far, they’ve launched seven venture funds, with a whopping $850 million in capital and investments in over 125 companies worldwide.

His most important insights:
💡 The Rocky Path to Success: Jens Hilgers faced 15 years of financial setbacks before launching his first $7 million esports fund in 2016. To win Limited Partners (LPs), he offered 0️⃣ % management fees and 0️⃣ % carry, displaying unwavering commitment to his venture.
💡 Blockchain and Gaming Nexus: He believes in the symbiotic relationship between gaming, blockchain, and crypto, a conviction that has reached an all-time high. He views this convergence as an essential ingredient in the recipe for achieving scalability in both gaming and Virtual Reality.
💡 Emerging Markets 🌎: He highlights Africa, Asia, and Latin America as tech and gaming hotspots, with India on the rise despite historically low player spending habits.
💡 Cross-Platform Play 🎮: Hilgers champions the potential of games spanning mobile, PC, and console platforms, along with user-generated content platforms.
💡 The Evolving State of VR/AR 👓: While Hilgers acknowledges the immense potential of VR/AR, he admits that consumer-friendly VR/AR headsets are still a few years away from achieving widespread adoption.
💡 Apple Vision Pro vs. Meta Quest: While the dedicated operating system of the Apple Vision Pro is a significant advantage, the high price point remains a concern. He leans toward favouring the Meta Quest Series, given its increasing utility in everyday life.
💡 Team Dynamics Matter 👥: Hilgers emphasized the critical role of team culture and shared values when evaluating investment opportunities. Partnering with the wrong team, regardless of seemingly attractive returns on investment, can be profoundly detrimental to a fund’s success.

In summary, my venture into venture capital with Included VC this summer has been captivating and enlightening, and there’s more to come in the next two months! 🚀

A big thank you to Nikita Thakrar and Anu Panesar, and my amazing cohort members!