Gaming VC activity remains subdued in Q2 2023 | PitchBook

Venture capital funding for games continued to stagnate in Q2 2023 according to PitchBook’s latest market report. While the total value of deals was up 12% from the first quarter (totaling $1.1 billion), the number of closed deals declined 29% to 110.

Both figures fell dramatically compared to 2022, with deal value down 80% and the number of deals falling 57.5% year-on-year. Notably, VC deal values in gaming peaked in Q2 2022 which partially explains the steep drop-off.