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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.

PitchBook

AI startups currently command 65% of all venture capital, driving record-high median valuations of $838 million for Series C and D+ rounds.
The US venture capital market is projected to see a fundraising rebound to $100–$130 billion in 2026, with approximately 70% of new commitments expected to come from recycled distributions.
As of Q3 2025, the US hosted 830 active unicorns with a combined post-money valuation of $3.9 trillion, though many face significant liquidity constraints and difficulties securing follow-on funding.

PitchBookJan 2026

Global gaming venture capital reached $1.3 billion across 153 deals in Q1 2024, marking a 22.1% quarter-over-quarter increase in total deal value.
The market is trending toward stabilization with a shift away from speculative Web3 and metaverse funding in favor of sustainable development and infrastructure-focused investments.
Despite a 17.3% year-over-year decline in deal volume, current funding levels put the industry on track to exceed the total aggregate capital deployed in 2023.

PitchBookJan 2024