For years, venture capitalists have ignored consumer investments, shifting their focus to enterprise software (B2B). But that’s about to change. Gaming is the trigger that will bring billions back into consumer investing.
Gaming Is Already Dominating Consumer Unicorns
Right now, gaming is only 10% of consumer unicorns (startups valued at $1B+), but it holds a massive 21% of their total enterprise value ($57B out of $280B).
That means gaming startups are pulling in more value per company than almost any other sector.
The top 10 U.S. gaming unicorns have raised $12.1B and are now worth $60.3B combined. These companies are positioned for major exits—through IPOs or acquisitions—which will bring a surge of new investment into consumer tech.
Read also: Why Gaming’s Future Belongs to Innovators
2025–2026: The Big Moment for Gaming Exits
Over the next two years, gaming IPOs and M&A deals will shake up the market. This will prove to investors that consumer startups (especially in gaming) can deliver massive returns.
Just look at past gaming IPOs like Roblox and Unity — both set the stage for what’s coming next. Investors who ignored gaming before will rush back in once they see how much money these companies make when they go public or get acquired.
Gaming Unicorns Aren’t Just in the U.S.
Some of the biggest gaming companies aren’t even based in the U.S. A new wave of global gaming giants is making moves:
- Dream Games (Turkey)
- Wildlife Studios (Brazil)
- miHoYo (China)
- Voodoo (France)
- Sky Mavis (Singapore)
- Mobile Premier League (India)
These companies are proof that gaming is a global force, and their future exits will push even more investment into the sector.
Read also: Game Investment 2024: Global Funding Surges 38% to $4.3B
Could Corporate Giants Be Forced to Sell?
Some of gaming’s biggest assets are stuck inside massive corporations. But that could change soon:
- Riot Games (Tencent): U.S.-China tensions could force Tencent to sell Riot Games. If that happens, expect a bidding war from investors and major tech companies.
- Twitch (Amazon): Twitch is growing, but Amazon doesn’t have a clear gaming strategy. A sale could be on the table, bringing new life into the platform.
What About Valve?
Valve is one of the biggest forces in gaming, but you won’t see it on any unicorn lists. Why? Because Valve is private, has never raised public funding, and isn’t looking to sell or go public.
That said, Valve makes an estimated $7–10B per year, thanks to Steam, Counter-Strike, and Dota 2. If it ever did an IPO, it would shake up the gaming market overnight.
Read also: The State of the Gaming Industry in 2024: Growth, Mergers, and the Future Ahead
Final Takeaway: VCs Can’t Ignore Gaming Anymore
For too long, investors have stayed away from consumer startups, focusing on enterprise software. But gaming is proving that consumer tech is far from dead.
With big exits expected in 2025–2026, gaming is about to flood the market with billions in liquidity. The smart money will follow.
VCs who ignore gaming now will regret it later.
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Thank you for reading. Every day I look at the gaming industry, read up on things, and talk to industry people. In my Medium blogs, I try to give my readers and 1.5K followers a solid sense of trends, analysis, investments, and more in gaming. If you found this interesting, I’d appreciate it if you shared the article — but even more, I’d love to hear your thoughts in the comments!
