September 28, 2020 Press

SMP and Gunderson Dettmer advise Bitkraft on the launch of a USD 165 million fund

Berlin - SMP advised the German-American venture capital investor Bitkraft on the launch of its first venture fund. With USD 165 million, the capital raised by the fund, which focuses on financing start-ups in the gaming and e-sports sector, significantly exceeded the total volume envisaged. Investors include the family office of David Rubenstein, co-founder of the Carlyle Group, and the investment firm JS Capital, led by Jonathan Soros. Together with the renowned US law firm Gunderson Dettmer, an SMP team led by Helder Schnittker structured Bitkraft Venture Fund I and advised on tax and regulatory issues.

"The Bitkraft team has the potential to become the leading global investment platform in the gaming and e-sports industry. We are pleased to have been able to support Jens, Malte and Scott in the process of achieving this ambitious goal," SMP partner Helder Schnittker said.

Bitkraft Ventures
Bitkraft Ventures is a global early and mid-stage investment platform for gaming, e-sports and interactive media. Founded by e-sports veteran Jens Hilgers, Bitkraft serves a global network that spans the industry's most forward-thinking startups and founders working to build and operate the virtual worlds and economies of the future. The venture capital firm, which launched its first USD 18 million pre-seed fund in 2017, now invests out of its USD 165 million venture fund I and has made over 50 investments in new companies since its inception. Bitkraft's experienced international team creates significant value through early candid partnerships, unparalleled domain expertise, entrepreneurial history, and a worldwide ecosystem of strategic partners.

About SMP
SMP is a law firm which is active in the core fields of Tax, Funds, Transactions, Corporate and Litigation. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 50 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.

Advisors Bitkraft: SMP
Dr. Helder Schnittker (Lead, Fund structuring), Partner
Dr. Thomas Töben (Tax), Partner
Lennart Lorenz (Regulatory Law), Partner
Dr. Sebastian Schwarz (Tax), Senior Associate