Deal-making in the video game industry reached $127 billion last year, across more than 1,250 investments, acquisitions and mergers, according to a new report by Drake Star Partners.
Some notable game studios that received big investments in 2022 include Elden Ring makers FromSoftware , Journey studio ThatGameCompany , and former Grand Theft Auto producer Leslie Benzies’ Build A Rocket Boy .While venture capital firms raised an impressive $13 billion for blockchain gaming funds, Drake Star says the category’s second biggest player among them was collapsed crypto outfit FTX.
And not surprisingly, January 2023 has also been much quieter than the supercharged first month of 2022, which included announcements of the Microsoft-Activision bid, Savvy’s esports deals and since-closed deals for Bungie and Zynga.Global deal value and volume were down 38% and 18%, respectively, from 2021. The declines for U.S. deals were 39% and 15%.Sign up for the Axios Gaming newsletter
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