Bitkraft Ventures has launched a new fund that will invest $275 million in gaming and interactive media firms.

The Bitkraft Venture Fund 3 will focus on global early-stage investments for studios, platforms, and technology.

“At Bitkraft Ventures, we are as committed to — and optimistic about — the future of the games industry as we were from the inception of Bitkraft in 2016,” said Bitkraft Venture’s Jens Hilgers.

“We’ve seen continued growth across all major game platforms in metrics including user engagement, activity levels, and monetization. Newly formed game studios have seen substantial break-out successes over the last years, and the advent of AI in game production further benefits new upstarts in the space.”

Additionally, once the Bitkraft Venture Fund 3 closes, the VC firm’s total assets under management will reach $1 billion.