Bitkraft Ventures Hires Former Riot Games President and Temasek Associate Director to Expand Asian Blockchain Gaming Market

According to TechCrunch, Bitkraft Ventures is expanding into the Asian market by introducing two new members. Among them, Jin Oh, former president of Riot Games and CEO of Garena, will serve as a partner; Jonathan Huang, former associate director of Temasek, will serve as the head. Currently, Bitkraft has 15% invested outside Western markets, most of which are in Asia, and aims to increase its investment in Asia to 20-25%. Oh and Huang will be scouting traditional gaming projects in Asia, but will also allocate most of their time to high-potential blockchain games. Typical check sizes from companies for traditional equity seed investments are $2-10 million; checks for web3 projects are slightly smaller, ranging from $1 million to $5 million. Bitkraft Ventures manages $830 million in assets to support early to mid-stage Web3 games and other immersive technologies.