Weekly News Digest #29
# of announced deals
14
announced deals’ size
$55.4m
# of closed deals
14
Global Gaming Deals Report Q2’24
The InvestGame team is pleased to present our Global Gaming Deals Report for Q2’24. That quarter, the industry saw 166 closed deals totalling $4.1B, marking an increase in deal value and volume.
You can read the full Report by pressing the button below.
The market shows signs of stabilization, highlighted by several successful public offerings, including Shift Up and GameStop. Private equity firms are increasing activity in the M&A field, while Strategic Investors are adapting and optimizing their business models. We anticipate this dynamic to continue with a moderated potential growth compared to 2023.
We thank MY.GAMES and Xsolla for supporting this digest.
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MERGERS & ACQUISITIONS
Singapore-based gaming platform Dynasty Gaming and Media has acquired New Zealand-based esports company LetsPlay.Live for an undisclosed sum. The acquisition will enable LetsPlay.Live to expand across various esports companies and particular disciplines.
UAE-based tech company Muller & Phipps Middle East Group Holdings has acquired UAE-based gaming and esports marketing agency Power League Gaming for an undisclosed sum. This acquisition will support Muller & Phipps’s expansion into the gaming and esports sector in the MENA market.
US-based video game commerce company Xsolla has acquired UK-based social gaming platform LF.Group for an undisclosed price. Xsolla will use LF.Group’s technological stack to create solutions for connecting developers and gaming communities.
UK-based former footballer Nicklas Bendtner has launched an esports investment company, Legendary Gaming Group. The company has acquired Denmark-based esports company New Breed Agency, Denmark-based esports organization Team Singularity, gaming company Legendary Company, and an unnamed esports company. The company plans to invest in Seed companies over the next three years.
VENTURE FINANCING
Canada-based AI technology company Artificial Agency has raised $16m in a funding round from Radical Ventures, Toyota Ventures, Flying Fish, Kaya, BDC Deep Tech, and TIRTA Ventures. This funding will accelerate the development of the company’s AI behavior engine, which provides developers with decision-making tools for games. The commercial launch of the AI is expected in 2025.
US-based games development platform Dusk has raised $8m in a funding round led by Makers Fund and byFounders, with participation from various angel investors. The funds will support the development of the company’s platform, which allows developers to build mobile social games.
Sweden-based PC & Console games developer Blue Scarab Entertainment has raised $7m in a Seed funding round led by NetEase (NASDAQ: NTES) and Behold Ventures, with participation from various angel investors. The funds will be used to develop the debut MMORPG title. The studio is backed by genre veterans, as the CTO and CEO of the company were responsible for Anarchy Online, along with the rest of the team, who were responsible for various projects, such as Helldivers 2 and World of Warcraft.
Turkey-based mobile games developer Grand Games has raised $3m in a pre-Seed funding round led by Earlybird Digital East Fund, with participation from Laton Ventures. The funds will support team expansion and the development of new titles.
US-based games developer Echo Chunk AI has raised $1.4m in a pre-Seed funding round led by a16z Speedrun, with participation from various angel investors. The funds will support the development of the F2P puzzle game Echo Chess.
Web3 gaming platform Akedo has raised an undisclosed strategic investment from The Open Platform (TOP). TOP, which provides developers with TON ecosystem features, will support the company in developing clicker games within the ecosystem. The first clicker project, Akedog, is set for release on July 18.
PUBLIC OFFERINGS
Canada-based esports and media company Enthusiast Gaming (TSX: EGLX) has secured a $20m non-revolving loan with a 14% interest rate, led by Beedie Investments. The funds will be used for working capital, growth, and assets from the company’s portfolio.
