A quick Google search indicates that $4B has been invested by VCs in video game companies since ~2010 [1]. The fact that these businesses are "hits based" actu

A quick Google search indicates that $4B has been invested by VCs in video game companies since ~2010 [1]. The fact that these businesses are "hits based" actually aligns very closely with the power-law nature of VC returns. In fact, Electronic Arts was backed by Sequoia in the 1980s & does $7B in annual revenue today. Lots of other "successes" (defined by achieved liquidity for early VC investors) include Zynga, Tencent, Roblox, etc. https://www.crunchbase.com/hub/video-games-companies-early-stage-venture-funding/hub_overview_default/top?tab=top_orgs https://www.crunchbase.com/hub/video-games-companies-early-s...