Insight Industry news / 05 November 2020
What Venture Capitalists are looking for in 2021
With 2021 just around the corner, Michael Johnson, Group Head of Fund Services at Crestbridge, discussed what he thought should be a key area of focus for venture capitalists.
Speaking in Raconteur’s ‘Business Recovery and Growth’ special report published in The Times, Michael Johnson shared why the gaming industry was a highly desirable market for venture capitalists.
He explained: "There’s no doubt that the gaming industry is growing rapidly and although this trend, like so many others, has been accelerated by COVID-19, it is by no means exclusively attributable to it. The world’s 2.7 billion gamers will spend around $159.3 billion on games in 2020 and the market will surpass $200 billion by 2023. The fastest-growing aspect of gaming is that of mobile gaming, with an estimated $77.2 billion of revenues generated this year. This represents a 13.3 per cent year-on-year growth and a highly desirable market for venture capitalists.”
The report considered a range of industry leaders’ opinions on the topic and can be found here (p.19).