As the industry gathers in San Francisco for GDC 2026, we're sharing our current read on where the games investment opportunity actually lives, and where conventional wisdom is getting it wrong. Every year, our team works to connect the rooms where our industry's investment decisions get made. From Davos to Shanghai, London, Tokyo, Istanbul, Saigon, Helsinki, Bangalore, to Seoul and San Francisco, we speak regularly with LPs, founders, and strategics building across every seg

PC and console gaming are diverging, and most of the industry is pricing them the same. Newzoo's full-year 2025 data makes the split hard to ignore: PC rewards new creators, console rewards incumbent franchises. That asymmetry has direct implications for where early-stage capital should go.

As we look forward to 2026, my partners and I are genuinely optimistic about what lies ahead for the digital entertainment industry. While 2025 was a key inflection point that demanded patience and discipline from everyone in the ecosystem, the post-pandemic contraction appears to be largely behind us. Growth has returned and the building blocks for the next phase of industry expansion are becoming clearer. Many of these—AI-native development, new distribution models, the ris