Gaming-focused venture capital firm Bitkraft raised $220.6 million for its second "token fund," which had a total target of $240 million, according to a March 30 filing with the U.S. Securities and Exchange Commission (SEC).

The firm launched a similar fund in October 2021, with $75 million in committed capital that was seeking to invest in blockchain gaming and digital entertainment.

For the new fund, however, Bitkraft couldn’t comment on the nature of the investment mandate but partner Carlos Pereira outlined the firm’s general Web3 investment strategy during an interview with CoinDesk.

(by Aoyon Ashraf)