Mentioned in this article
League/Tournament Brands:
- BITKRAFT Esports Ventures and 1Up Ventures have jointly invested $3.5M USD in Bit Fry Game Studios.
- The capital will be used to support the growth of Bit Fry’s arcade-action sports gaming franchise, Ultimate Rivals.
- Bit Fry also announced the addition of Nick Caras as its new vice president, competitive gaming strategy; and Hali Oughton as new vice president, community and engagement.
On Wednesday, Bit Fry Game Studios, an arcade-action sports video game developer, announced an additional combined $3.5M investment from 1Up Ventures and BITKRAFT Esports Ventures. Founded by Xbox co-creator Ed Fries, 1Up Ventures is a venture capital fund focused on esports. The capital will be used to support the growth of Bit Fry’s arcade-action sports gaming franchise, Ultimate Rivals.
“As we continue to expand our franchise into the competitive gaming space, I can’t think of better capital and strategic partners than BITKRAFT and 1Up Ventures,” said CEO and Founder of Bit Fry Game StudiosBen Freidlin. “BITKRAFT is the world’s preeminent esports-focused fund, and Ed is a gaming luminary as co-creator of Xbox. Their investments demonstrate how our studio continues to attract leading strategic capital players in this highly competitive space.”
Bit Fry Game Studios was founded in November of 2013, and in December of 2019, Apple helped launch the platform’s first title, Ultimate Rivals: The Rink, a National Hockey League (NHL) and National Hockey League Players Association-licensed hockey game on its Apple Arcade service The company is headquartered in Portsmouth, New Hampshire, with offices in Los Angeles and New York City.
According to the announcement, Bit Fry has licensing agreements with 10 major professional sports organizations including the National Hockey League, the National Hockey League Players Association (NHLPA), the National Basketball Association (NBA), the National Basketball Players Association (NBPA), the National Football League Players Association (NFLPA), Major League Baseball (MLB), the Major League Baseball Players Association (MLBPA), the Women’s National Basketball Association (WNBPA), the Women’s National Basketball Players Association (WNBA), the U.S. Women’s National Soccer Team Players Association (USWNSTPA), and NHL legend Wayne Gretzky.
In addition to the investment, Bit Fry also announced the addition of Nick Caras as its new vice president, competitive gaming strategy; and Hali Oughton as new vice president, community and engagement.
