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Early-stage funding from VCs hit a 12-month excessive in Q2 2024 however that wasn’t sufficient to drag the business out of its funding stoop, information from a brand new Konvoy Ventures report reveals.
VCs invested $492 million final quarter, virtually solely into early-stage firms. That determine was down from $601m in Q1 2024 and from $529m in Q2 2023. It was the bottom degree of VC funding in video games since This fall 2023 ($332m), and previous to that, Q2 2020 ($418m).
Konvoy Ventures mentioned round 90% or extra of funding has been invested into early-stage offers since This fall 2022. It famous that funding for progress and late-stage video games firms was “very depressed”.
General personal video games funding hit $690m in Q2, down from $2.2bn in Q1 and $599m in Q2 2023. It needs to be famous that Q1 figures have been largely pushed by Disney’s $1.5 billion funding into Fortnite developer Epic Video games.
Declining offers
There have been 104 gaming VC offers in Q2, down 22% from the earlier quarter and 12% from Q2 2023.
Konvoy Ventures mentioned that 22% of VC offers made up 80% of disclosed funding. It claimed this signalled a “well-distributed and more healthy funding atmosphere”.
Nearly all of enterprise offers in Q2 got here from Asia (39), adopted by North America at 33 and Europe at 29. Asia took essentially the most funding, accounting for $283m, versus $128m in North America and $78m in Europe.
Funding in Asia was mentioned to be at a 12-month excessive, whereas North America noticed a 61% lower in VC funding from the earlier quarter.
