Investments·Updated Mar 17, 2026 by PitchBook
Q2 2023 gaming investment reached $1.1 billion across 110 deals, marking a 12.1% increase in total value from the previous quarter despite a 57.5% year-over-year decline in deal volume.
Capital is increasingly concentrated in larger, late-stage investments, though seed and angel rounds still account for 71.8% of total deal activity.
Development and content segments are the primary drivers of capital, attracting $488 million and $483 million in deal value respectively.
North America remains the leading region for gaming investment, securing $1.3 billion in funding during the first half of 2023.
Notable large-scale transactions in the period included CoreWeave’s $421 million Series B and Metagame’s $100 million early-stage round.
Emerging investment opportunities are currently focused on cloud gaming, user-generated content, and novel monetization models, such as Triumph Labs' real-money tournament SDK.
Q2 2023 gaming investment reached $1.1 billion across 110 deals, marking a 12.1% increase in total value from the previous quarter despite a 57.5% year-over-year decline in deal volume.
Capital is increasingly concentrated in larger, late-stage investments, though seed and angel rounds still account for 71.8% of total deal activity.
Development and content segments are the primary drivers of capital, attracting $488 million and $483 million in deal value respectively.
North America remains the leading region for gaming investment, securing $1.3 billion in funding during the first half of 2023.
Notable large-scale transactions in the period included CoreWeave’s $421 million Series B and Metagame’s $100 million early-stage round.
Emerging investment opportunities are currently focused on cloud gaming, user-generated content, and novel monetization models, such as Triumph Labs' real-money tournament SDK.