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Cover of Gaming Industry Report: Serbia 2020
Report61 pages

Gaming Industry Report: Serbia 2020

The 2020 assessment of Serbia’s video-game sector presents a rapidly expanding ecosystem that has moved beyond a modest, paper-based association to become a central hub for nearly one hundred companies.

  • Serbia’s video-game industry reached over €100 million in revenue in 2020, marking a 20 percent year-over-year growth across 120 development teams.
  • The sector employs approximately 2,100 people, with women accounting for one-third of the workforce and a majority of firms planning to increase staff in 2021.
  • Educational infrastructure expanded significantly with new programs at the University of Kragujevac and the University of Arts in Belgrade, supported by partners like Epic Games and Nordeus to serve over 1,500 students.
SGAJan 2020
Cover of Is There a Shift from Content to Tech Startups Among Gaming VCs?
Report4 pages

Is There a Shift from Content to Tech Startups Among Gaming VCs?

The analysis examines venture capital activity in the gaming sector from 2020 to early 2024, focusing on whether investment priorities are shifting from traditional content creation and publishing toward technology-driven startups.

  • Content creators and publishers remain the primary focus of gaming VC, accounting for over half of all capital deployed (approximately $1.76 billion) and the majority of deal volume across all stages.
  • Gaming-focused VC funds, including VENTURES, BEHOLD Venture, and Lightspeed Lvp., significantly increased their activity between 2020 and H1 2024, with capital deployed rising from $1.3 billion to over $2.4 billion.
  • The number of VC-led funding rounds grew substantially from 67 in early 2020 to 289 by H1 2024, reflecting an overall increase in investment activity.
InvestGame