Library

91 reports matching your filters

Funding

Report4 pages

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

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.

Market Analysis Investment Funding+3

InvestGame

Report6 pages

The Alumni Effect: Studios Founded by Ex-Activision, Blizzard, and King Employees

Between 2020 and 2024, 30 studios founded by former Activision Blizzard employees secured approximately $0.7 billion in venture capital across 45 funding rounds.
Ex-Activision studios demonstrate a 'first-round momentum' effect, being roughly four times more likely than peer startups to secure a second round of financing within the same calendar year.
Investor confidence in alumni teams peaked in 2021, when 43% of ex-Activision studios raised a subsequent round compared to only 9% of broader gaming startups.

Market Analysis Game Development Investment+2

InvestGame

Report9 pages

Corporate Overhaul: Why Does CVC Play a Bigger Role Than Ever?

Corporate venture capital (CVC) has become the dominant force in gaming investment from 2020 to 2024, accounting for over half of all capital raised with $4.0 billion across 93 CVC-led deals.
Investment strategies have shifted toward co-investment models between CVCs and traditional VCs, which collectively raised $3.5 billion across 80 deals to spread risk and access high-profile startups.
Asian firms, specifically from South Korea and Japan, are the most active investors, completing 105 deals worth $1.8 billion and surpassing Western peers in total deal volume.

Market Analysis Investment Funding+2

InvestGame

Report12 pages

The Great Mobile Reversal: Why Buyers Pay Billions for What VCs Abandoned

Mobile gaming accounted for 61% of total gaming deal value (excluding ATVI) between 2020 and H1 2025, with strategic buyers and private equity firms driving nearly all deal volume in the first half of 2025.
Strategic consolidation has replaced VC-led growth, highlighted by $7 billion in mobile M&A activity across six major deals, including Af’s $12.7 billion acquisition of 2yga and Scopely’s $4.9 billion purchase of GamesGroup.
Venture capital interest has shifted heavily toward casual gaming, which now captures 65% of all deals due to its broader audience reach and faster iteration cycles.

Market Analysis Mobile Mergers & Acquisitions+3

InvestGame

Report11 pages

Enabling Growth: Cohort User Acquisition Financing

Mobile gaming is projected to grow at a 5.0% CAGR from 2020 to 2025, supported by a 16.2% increase in in-app advertising and AI-driven ad tech.
Cohort-based UA financing allows studios to fund up to 80% of monthly acquisition costs by leveraging future revenues, providing an alternative to scarce venture capital.
Studios utilizing cohort-based financing have demonstrated the ability to increase monthly marketing spend by 16–38% while maintaining founder control over equity and IP.

Market Analysis Monetization User Acquisition+4

HPvX Partners

Report9 pages

The Rise of the Financial Kingmakers: Private Equity’s $21B+ Bet on Gaming

Private equity firms deployed over $21 billion into the gaming sector between 2018 and mid-2025, with annual deal values consistently surpassing $1 billion.
Control acquisitions represent the primary investment strategy, accounting for approximately 60% of total capital deployed in the sector.
Content creation studios holding strong IP portfolios are the most targeted assets, securing 42 of the 68 total private equity-led deals identified.

Market Analysis Mergers & Acquisitions Investment+2

InvestGame

Report15 pages

Gaming VC Trends: Q2 2025

Global gaming venture capital plummeted in Q2 2025, with total funding falling to $904.6 million, representing a 27.2% quarterly decline and a 47.6% drop year-over-year.
Median deal sizes increased by 19% to $5 million, while pre-money valuations surged 41.7% to $29.9 million year-to-date, signaling a shift toward higher-cost, later-stage investments.
Early-stage deal activity has hit a historic low, now accounting for only 61.1% of transactions, while late-stage and venture-growth rounds have consolidated to represent nearly 40% of the market.

Market Analysis Investment Funding+1

PitchBook

Report9 pages

Where the UGC Dollars Flow: Mapping $9B Investments in Creator Economy

The UGC gaming sector attracted $9 billion in total investment between 2020 and 2025, with $8.9 billion concentrated in late-stage and corporate deals.
Strategic investment from industry incumbents is a primary driver, highlighted by Sony/Kirkbi’s $2 billion commitment in 2022 and Disney’s $1.5 billion investment in 2024.
Creator monetization is scaling rapidly, with Roblox and Fortnite collectively disbursing approximately $1.5 billion to developers in 2024 and reporting a 38% quarterly earnings increase between Q2 and Q3 2023.

Market Analysis UGC Investment+3

InvestGame

Report12 pages

The Rise and Reset of Sweden's $19B Gaming Capital Machine

Sweden’s gaming sector has matured into a $19 billion ecosystem comprising 1,100 companies, with Swedish developers producing five of Steam’s global top-10 bestsellers in 2024–25.
Swedish studios contribute approximately 20% of Steam’s projected 2025 gross revenue, cementing the country's status as a dominant global gaming hub.
M&A activity is highly concentrated, with three major deals—King ($5.9 billion), Mojang ($2.5 billion), and ESL ($1.05 billion)—accounting for 93% of the total transaction value.

Market Analysis Investment Funding+3

InvestGame

Report7 pages

The Essential UA Financing Guide: 2026

Global mobile user acquisition (UA) spend reached $78 billion in 2025, representing a 13% year-on-year increase.
Studios can access non-dilutive financing to cover up to 80% of monthly UA spend per cohort, avoiding equity dilution while scaling growth.
Repayment is tied directly to cohort performance, with the schedule beginning only once the return on ad spend (ROAS) reaches the 100% breakeven point.

Investment Funding User Acquisition+3

InvestGameApr 2026

Report5 pages

Akt Notarialny: 11 Bit Studios

On January 9, 2012, 11 Bit Studios formally notarized a capital increase authorized by the board to issue up to 500,000 new Series D ordinary shares at a nominal value of PLN 0.10 each.
The capital increase expanded the company's share capital from PLN 187,076.10 to a potential maximum of PLN 237,076.10.
As of December 31, 2011, the company successfully executed 10 subscription agreements for 40,938 Series D shares, generating PLN 4,093.80 in cash proceeds.

Investment Funding Europe

11 bit studios

Report3 pages

Zakończenie Subskrypcji Akcji Zwykłych na Okaziciela Serii D

11 Bit Studios S.A. concluded a private subscription for Series D ordinary bearer shares, issuing 40,938 shares out of a maximum authorized 500,000.
The shares were issued on December 23, 2011, at an emission price of 9.00 zł per share, with a nominal value of 0.10 zł per share.
The subscription period ran from December 5, 2011, to January 9, 2012, closing ahead of the original January 31, 2012 deadline.

Investment Funding IPO+1

11 bit studios

Report2 pages

Report on the Completion of Series E Share Subscription

11 bit studios S.A. raised PLN 2,749,500 through a private subscription of 305,500 Series E ordinary shares.
The shares were issued at a price of PLN 9.00 per share to six private investors between 25 and 26 July 2012.
The capital increase fell short of the 400,000 shares originally offered, with 305,500 shares ultimately subscribed.

Investment Funding Europe

11 bit studios

Report1 pages

Press Release: Assessment of Bigben Interactive Financial Challenges

Bigben Interactive (BBI) is exploring court-supervised debt restructuring after its banking pool refused to honor a drawdown notice for a €43 million bond repayment due on 19 February 2026.
Nacon, which is 56.72% owned by BBI, is currently evaluating the potential operational and financial impact of its parent company's debt crisis.
Nacon reported an IFRS revenue of €167.9 million and an operating profit of €1.1 million for the 2024/2025 period.

Investment Funding France

Nacon

Report88 pages

Invitation to Subscribe for Shares in Stillfront Group AB

Stillfront Group AB is conducting a rights issue requiring shareholders to take action to preserve the economic value of their subscription rights.
Shareholders must exercise their subscription rights to purchase new shares no later than March 16, 2022.
Subscription rights that are not intended to be used for purchasing new shares must be sold by March 11, 2022.

Investment Funding Sweden

Stillfront

Report19 pages

Results: What's Next - Focus on Cash Flow

The company reported 2024 revenue of PLN 190.4 million, but incurred a net loss of PLN 175.3 million and an EBITDA of PLN 12.9 million due to project write-offs and revenue declines.
Management is pivoting away from VR development following the withdrawal of platform subsidies, shifting focus toward AAA and compact-AAA titles.
The organization is implementing a cost-reduction strategy that includes restructuring office space and realigning the workforce, which had grown to 756 employees by the end of 2024.

Game Development Game Publishing VR+3

PCF Group

Report4 pages

Zakończenie subskrypcji akcji serii B oraz sprzedaży części akcji serii A w ofercie publicznej

PCF Group S.A. successfully completed a public offering of 2,062,512 new Series B shares and the sale of 2,062,512 existing Series A shares to facilitate its listing on the Warsaw Stock Exchange.
The offering generated a subscription value of approximately 100.29 million PLN for new shares and a sale value of approximately 103.13 million PLN for existing shares.
Shares were distributed across three tranches with varying prices: 46.00 PLN for individual investors, 41.40 PLN for employees, and 50.00 PLN for institutional investors.

Investment Funding IPO+1

PCF Group

Report4 pages

Current Report No. 15/2021: Investment Agreement and Share Acquisition

PCF Group S.A. acquired 100% of Montreal-based animation and audio studio Game On Creative, Inc. for PLN 29,369,385.59 on April 27, 2021.
The acquisition includes a performance-based earn-out provision granting the seller 5% of Game On’s EBITDA for the 2021–2025 fiscal years if specific thresholds are met.
PCF financed the purchase by issuing 387,714 Series D shares at PLN 75.75 per share, representing approximately 1.29% of the company's total capital.

Mergers & Acquisitions Investment Funding+1

PCF Group

Report2 pages

Current Report No. 20/2021: Conclusion of Series B Share Subscription and Partial Series A Sale

PCF Group S.A. incurred total costs of 6,327 thousand PLN for the Series B share subscription and partial Series A share sale conducted between 2020 and 2021.
The total issuance costs comprised 4,180 thousand PLN for offer preparation and execution, 2,071 thousand PLN for prospectus and advisory services, and 76 thousand PLN for promotional expenses.
The average cost per security issued or sold during the offering process was 1.53 PLN.

Investment Funding IPO

PCF Group

Report1 pages

Raport Bieżący Nr 26/2021: Zawarcie Umowy Objęcia Akcji Zwykłych na Okaziciela Serii D

PCF Group S.A. acquired 387,714 Series D ordinary shares from the Montreal-based trust Fiducie Familiale Samuel Girardin 2020 on 31 May 2021.
The total consideration for the share acquisition amounted to PLN 29,369,335.50.
The transaction was executed at a price of PLN 75.75 per share, matching the established issue price.

Investment Funding Europe

PCF Group