DDM：2024年第二季度游戲投資報告 Games Investment Review -Q2 2024 EXECUTIVE SUMMARY REPORT

DDM>

Games

Investment

Review

Q22024EXECUTIVESUMMARYREPORT

DigitalDevelopmentManagementDDM

WearetheVideoGameBusinessExperts

DDMHIGHLIGHTS

EstablishedinAsia,EuropeandtheUSCoasts

$1.2Billion

IndealssecuredforDDMRepresentationClients

18

Yearsintheindustry

70+

DealssignedacrossYearsofindustry

ourserviceareasinvestmentdata

Consultingclients

DDMProvidesComprehensiveServicesfortheVideoGamesIndustry

Representation

DDMrepresentstalenteddevelopment

studiosaroundtheglobethatcreategreat

gamesoneveryplatform.Withits

worldwidebusinessdevelopmentteamanddeepindustryrelationships,DDMsecuresfullgamedealsandco-

developmentprojectsforitsclients.Alwayswithapersonaltouch,DDMhassecuredhundredsofdealsand

deeplyunderstandshowtorunextensivebusinessdevelopmentinanefficientandeffectivemanner.

Wesecuretheprojectdealstoachieveyourcompany'sgoals.

Consulting

DDMprovidesbest-of-classconsultingtohelpcompaniessucceedintheirgamesindustryinitiatives.Whetherenteringthegamesspace,expandingonanexistingendeavor,orundertakinganewprojectthatcanbenefitfrominteractive

technologies,DDMpartnerswithyouto

buildandexecuteuponatailoredstrategy.Withanetworkofconsultingexecutives,

developmentstudios,productionservicesexpertsandpublishingcapabilities,plus

DDM'sowninternalextensiveexpertiseandresearchdepartment,DDMcantackleanygamesindustryprojectyou'vegot.

Consultingfromexpertswhoknowthegamesbusiness.Wecreateactionplansthatareactuallyused.

Data&Research

DDM'sresearchteamprovidesourclientswithbespokeservicesbasedonextensiveindustryexperience,awealthofdatawe

maintainonaregularbasisandthemost

comprehensiveandup-to-dategame

industryinvestmentdatabasethatexists.Weleverageouroverallcompany's

Representation,InvestmentandConsultingservicestohelpourclientssucceedin

theirprojectfunding,investments,

acquisitions,exitsandstrategicinitiatives.OurteampublishesthequarterlyDDM

GamesInvestmentReviewreportswhichisregularlyfeaturedonForbes,

G,VentureBeatand

manyothers.

Weprovidethedataandresearchtotakeyourcompanytothenextlevel.

InvestmentServices

DDMconsultsasanM&ABrokerfor

companiesinthegameindustrylookingtosecureabuyeraswellasthoselookingtosourceacquisitiontargets.Ourextensiveknowledgeofthegamesindustryand

worldwidebusinessdevelopment

capabilitiesarecombinedwithdeepfinancialexpertiseandrichinvestmentdata.Whetheryouareseeking

partialinvestmentorfullacquisition,wegloballysourcebusinessprospectsthatmatchyourstrategyandcriteria.

WesecuretheinvestmentorM&Arequiredforyoutotakeyournextmajorstrategic

step.

DDM'sInvestmentServicesandConsultingDriveKeyAcquisitionsandInvestments

Leveragingtheknowledgeobtainedfromhavingclosed700+dealsover17years,keepingthemostcomprehensiveM&Atransactionleveldatainthe

industryandbeinginvolvedinsomeofthemostinterestingconsultingprojectsandM&Atransactions,DDMtrulyoffersanunrivaledvaluepropositionsecondtonone.

FullydedicatedinvestmentteamUnparallelindustry&dealsknowledge

Globalpresencewithofficesinkeyterritories

Fullunderstandingoftheneedsateachstageoftheprocess

FocusHomeInteractive:AcquisitionofDeck13Interactive,aLeadingGermanGameDevelopmentStudioandLong-timePartner

iststudioacquisifonteointheGoupsEEsrategicplan

a1345AMEastgmDaplytTmbbusnesswire

EmbracerGroupacquiresPurpleLampStudios

yahoo!finance

STOCXHOLM,Now.18,2020/PRNewswire/-

EmbracerGroupAB(Embaser),throupiswholyownedsbsidaryTHQNordkeH(THQNordkc),hasenteredintonementtoxquire100percentofthershPuplLampstodlos(PLU)]PLShanindentwdopdotlbpe

Joge

Popea

JoymeCapitalCompletedtheS5MCADStrategicInvestmenttoCanadianPublicCompanyPopReach

15.2020bJogmeCp

CDProjektbuystheindiestudiobehind'TheFameintheFlood'

/msn

OutridersDevPeopleCanFlyOpensChicagoStudio,NowHas320+

EmployeesWorldwide

Peolesssan-Twsimokesnew

EsportsPlatform

ChallengermodeSecures$12MillionInvestment

Forbes

on,inx

NordiskGamesbuys40%ofMercurySteam

DealfortheSpanishdeveloperisNordisksfirstinvestmentoutsideoftheNordicregion

Bdsich·krl252021853MFDt

gamesindustybz

■Second-to-noneindustry

network

Up-to-dateproprietarymarket

information-DDMGame

InvestmentReview(GIR)

?Uniquesetofproprietarytoolsandmethodologiesdevelopedforthevideogameindustry

?Holisticapproach

Relationshipvstransactionaldriven

NordiskGameshasacquireda40%stakeinthe

M2HsellsitsmajorityshareofWW1Game

roroSeriestoFocusEntertainment

2022

edaexter

FlyingSheephasJoinedthegame

OurpartneriCandyInteractiveacquiresFyingSheepStudios2022

FroyoGames'strategicpartneriCandyGrouphassignedabindingagreement

acquire60%shareholdingingamingbackendtechnologydeveloperFlying

SheepStudios-aGermangamingtechnologydevelopmentcompanythatha

andsincludingDreadTh

LegoGroup,andpossessesaninhoustechnologystackofHTML5and

WebGLcapabllibe

MatthewHandrahanPuasloCnryh陽egredrwctentsenhnhaid0aron

ATrh

OthersideEntertainmentgetsnewinvestmentmAonicGroup

THIS5

Spa

playtitle

h口

Q2&H12024

ExecutiveSummary

TheTransactionBundle,acompletelistofthequarter'stransactionsin

PDFandExcelformat,isavailableforsingleandannualsubscriptionat

www.DDMGamesInvestmentR.

DDM>

GAMESINVESTMENTREVIEWTM

O2024DDMGAMEINDUSTRYSERVICES-ALLRIGHTSRE

Published2024-07-25

DDM>

Q22024

COMPAREDTOPREVIousQUARTER

Q1TotalInvestmentsQ2

$2.3B$3.0B

184DEALS222DEALS

+32.1%

Q1

$2.1B

42DEALS

Q2

TotalM&ATransactians

$0.8B

40DEALS

-58.9%

TotalIPOs

Q1

$0.01B

MARKETCAP

Q2

$0.00B

MARKETCAP

N/A

Highlights

Q22024investments

totaledS3.0Bacross

222investments

achievingthemost

nearlytwoyears

investmentvolumein

GAMESINVESTMENTREVIEWTM

Q22024newfund

announcementstotaled$21.9Bacross38fundsproppedbyfourfundsraisingover$2.0Bandaccountingfor74%ofthecapitalraised

NoIPO'sinQ22024

causingthequarter

tobreakanear5-

yearstreakofatleast

onecompanygoing

publicperquarter

sinceQ32019

O2024DDMGAMEINDUSTRYSERVICES-ALLRIGHTSRESERVED

GAMESINVESTMENTREVIEWTM

O2024DDMGAMEINDUSTRYSERVICES-ALLRIGHTSRESERVED

GamesInvestmentsShowMomentumwithQ22024’s$3.0Band222DealsFundAnnouncements($M)

Q22024combinedgamesinvestmentsandM&Astotaled$3.8Bacross262transactions(-11%invalueand+16%involumecomparedtoQ1's$4.3Bacross226transactions).

?Q22024investmentstotaled$3.0Bacross222investments(+32%invalueand+21%involumecomparedtoQI's

$2.3Band184investments)achievingthemostinvestmentvolumeinnearlytwoyearsasgamesinvestmentshavenotsurpassed200investmentssinceQ32022

?Q22024Exits(M&A+IPOs)totaled$845.0Macross40transactions(-59%invalueand-5%involumeoverQ1's$2.1Bacross42transactions);whileM&Adealvolumehasmarginallydeclinedquarter-over-quartersinceQ42023's45

transactions,Q22024'sM&Atotalvaluecanbeattributedtothelackoflargetransactionswhichinflatedpreviousquarters

?TherewerenoIPO'sinQ22024causingthequartertobreakanear5-yearstreakofatleastonecompanygoingpublicperquartersinceQ32019whenDouYudebutedwitha$3.7Bmarketcapitalization

?Q22024newfundannouncementstotaled$21.9Bacross38funds(+48%invalueand+23%involumecomparedtoQ12024's$14.8Bacross31funds)drivenbyfourfundsraisingover$2.0Baccountingfor74%ofthecapitalraisedfor

$2.0B

Investments(SM)

nsole/PC■MobileTech/Other■eSports

thequarter:GeneralCatalyst's$6.0B,ICONIQCapital's$5.2B,NorwestVenturePartners'$3.0B,andKleinerPerkins'

100,000

90,000

140

80,000

120

70,000

100

60,000

50,000

40,000

60

30,000

40

20,000

20

10,000

2021202220232024YTD

160

80

ValueVolume

M&As($M)Exits(M&A+IPOs)($B)

160400

140350

20300

00250

80200

150

100

20102011201220132015201720182019202020212022

AR/VRConsole/PC■MobileTech/OthereSportsumeM&AValueIPOMarketCap—TotalMBA/IPOVolu

2024

Hi’s488Investments/M&AsAchieves+26%inTransactionVolume

WithMicrosoft'scolossal$68.7BacquisitionofActivisionBlizzard,H22023wasahalf-yearfortherecordbooksat

$78.3Bacross386transactions.Byexcludingthisasanoutlier,H12024's$8.1Bacross488investmentsandM&Aswas-15%invalueand+26%involumecomparedtoanadjustedH22023$9.6Bacross387investmentsandM&As.

?H12024investmentstotaled$5.2Bacross406investments(+136%invalueand+32%involumeoverH22023's$2.2Bover307investments)passing2023'sannualvalueof$4.5Bacross672investments;H12024's2.3xinvalueovertheprecedingH22023ispropelledbyGameStop's$2.1BpostIPOequityandEpicGames'$1.5Blate-stageinvestmentswhichaccountedfor70%ofH12024'svalue

?H12024M&Astotaled$2.9Bacross82transactions(-96%invalueand+4%involumecomparedtoH22023's$76.1Bacross79transactions);thisdrasticdeclineinvaluewasduetoMicrosoft'sacquisitionofActivisionBlizzard(90%ofH22023'svalue)

?ByexcludingMicrosoft+ActivisionBlizzardtransaction,H22023M&Astotaled$7.4Bacross78transactions,resultinginH12024tobe-61%invalueand+5%involume

?H12024hasbeenlightonpublicdebutswithoneIPOat$7.2M(-95%invalueand-83%involume),thelowestvolumesinceH12019whichalsohadoneIPO

?H12024'ssoleIPOandlowvalueisafarcry(-100%invalueand-94%involume)fromH12021'stopof17IPOstotalingacombinedmarketcapitalizationof$84.5B

?H12024Exits(M&As+IPOs)totaled$2.9Bacross83transactions(-96%invalueand-2%involumecomparedtoH22023's$76.2Btotalacross85transactions);byexcludingMicrosoft+ActivisionBlizzard,H22023exitswouldhavetotaled$7.5Bacross84transactionsandH12024wouldbe-61%invalueand-1%involume

?H12024blockchaininvestmentstotaled$726.3Macross152investments(-3%invalueand+69%ofthevolume

comparedtoH22023's$747.3Macross90investments);whileblockchainvalueshavedecreasedslightly,interestinblockchainisincreasing,representing37%ofH12024'sinvestmentvolume(+8%comparedtoH22023's29%)

?H12024developerinvestmentstotaled$2.5Bacross299investments(+90%invalueand+50%ofvolumecomparedtoH22023's$1.3Bacross199investments);this1.9xisattributedtoEpicGames'$1.5BinvestmentfromDisneyinQ12024

?H12024newfundannouncementstotaled$36.7Binnewcapitalraisedacross69funds(+31%invalueand+13%involumecomparedtoH22023totaling$28.0Bacross61funds)continuinganuptrendofcapitalraisedperhalf-year

H12024DDM>

COMPAREDTOPREVIOUSHALF

H22023

$2.2B

307DEALS

TotalInvestments

H12024

$5.2B

406DEALS

+135.7%

23Tls2024

$76.1B$2.9B

79DEALS82DEALS

-96.1%

H2

2023

$0.14B

MABKPOCAP

TotalIPOs

-95.0%

H12024

$0.01B

MARKFOCAP

Highlights

H12024investmentstotaled$5.2Bacross406investments

surpassing2023's

nualvalueof$4.5Bross672

investments

H12024M8Astotaled$2.9B(-96%invaluecomparedtoH22023'sS76.1B);this

drasticdeclineisduetoMicrosoft'sacquisitionofActivisionBlizzard(90%ofH22023'svalue)

H12024developerinvestmentstotaled$2.5Bacross299

investmentsthankstEpicGames'$1.5Binvvestmentfror

DisneyinQ12024

sinceH12023whichtotaledS18.3Bacross61funds(+100%invalueand+13%involume)DDMGAMESINVESTMENTREVIEWTM

Q2’s222InvestmentsisHighestInvestmentVolumeinNearly2Years

?Q22024investmentstotaled$3.0Bacross222investments(+32%invalueand+21%involumecomparedtoQ1's$2.3Band

184investments)achievingthemostinvestmentvolumeinnearlytwoyearsasgamesinvestmentshavenotpassed200investmentssinceQ32022

?GameStop's$2.1BpostIPOequityraisewasthelargestinvestmentofthequarterat72%ofthequarter'svalue

?Blockchaininvestmentstotaled$416.1Macross85investments(+34%invalueand+27%involumecomparedtoQ12024's$310.2Mand67investments);thisincreaseisadirectresultofmoreblockchainadoptionastheSECapprovedEthereumSpotETFsshortlyafterapprovingBitcoinSpotETFslastquarter

?AnimocaBrandswasthemostactiveinvestorforthequarterbyinvestingin17blockchain-basedgamingcompanies

?HighestsegmentbyvalueledbyTech/Other(83%),followedbyMobile(6%),Console/PC(5%),MCG*(3%),eSports(2%),Browser(1%),andAR/VR(<1%);highestsegmentbyvolumeledbyConsole/PC(33%),followedbyMobile(22%),Tech/Other(19%),MCG*(10%),AR/VR(7%),eSports(5%),Browser(4%)

?Q22024undisclosedinvestmentstotaled88investments(40%ofthequarter);despitetheuptrendofinvestmentvolume,investorsaremorestrategicbywithholdingthosevaluesduringindustryturmoilcausinginvestmentvaluestobedampened

?Usinghistoricalaveragestoestimatetheundisclosedinvestmentvalues,Q22024reached$3.5B[+/-$182.54M]

SegmentsbyValueSegmentsbyVolume

5%

33%

nsole/PC

19%

Tsch/Othsr

22%

Mobie

4%

Browwser

10%

MCG

eSports

3%迂文<1%

ARAR

2%

eSports

6%

Molbile

Te/h□

5le/PC

1%

Browser

Investments(SM)

Console/PC—Mobile—Tecd/other—espots—Browser—MCG—Volume

%ofUndisclosedInvestmentsvsDealVolume

一%Undiscdosed—Countofate

*MassCommunityGamesMCGlaregamesdrivenbyonlinecommunityplay.IncludesMMOs,MOBAs,battleroyale,andmetoversegames

DDM>

GAMESINVESTMENTREVIEWTM

2024DDMGAMEINDUSTRYSERVICES-ALLRIGHTSRESERVED

9

TopandMedianSegmentInvestmentQ22024

DisclosedInvestmentsQ22024

Category

AR/VR

Browser

Console/PC

eSports

MCG*

Mobile

Tech/Other

No.Investments

6

8

30

10

19

38

39

TopDealbyValue(SMUSD)

Wevr's$3.5M

mid/late-stage

investmentfromEpicGamesandHTC

MysticMoose's

$10.5Mearly-stageinvestmentfrom

AnimocaBrands,

MeritCircle,

CourtsideVentures,SpartanGroup,andothers

BespokePixel's

$25.0Mearly-stageinvestmentfrom

undisclosedinvestors

FazeMedia's$11.0M

early-stageinvestmentfromangelinvestor

CryptoBlockchain

Industries'$13.6Mearly-

stageinvestmentfrom

Colop

SpykeGames'$50.0M

early-stageinvestmentfromMoonActive

Zentry's$140.1Mearly-stageinvestmentfrom

SpartanGroup,

LongHashVentures,

SynergisCapital,DWFLabs,andange

investors

SeedbyVolume

17%

38%

70%

80%

58%

61%

59%

SeriesAbyVolume

0%

13%

23%

10%

26%

18%

21%

OtherbyVolume

83%

50%

7%

10%

16%

21%

21%

Q2MedianSegmentInvestment(SMUSD)

1.2

2.2

7.6

1.0

3.0

3.5

4.0

Q2SegmentTotalValue(SMUSD)

8.1

23.3

97.1

16.5

62.3

163.9

339.4

Q1MedianSegmentInvestment(SMUSD)

4.3

3.0

5.5

3.3

4.0

3.1

5.6

Q1SegmentTotalValue(SMUSD)

27.6

3.0

176.6

58.5

160.7

109.8

1,645.5

?Weprefermediansinsteadofaveragestoreducetheimpactoflargemid/late-stageroundsfromskewingthepictureoftypicalinvestments;conversely,ifa

categoryhaslowvolume,anyblockbusterinvestmentcanhaveanoutsizedeffect

?Chartexcludesother-stageinvestments:IPO,PostIPO,crowdfunding,grants,tokenofferings

*MassCommunityGames(MCGlaregamesdrivenbyonlinecommunityplay.IncludesMMOs,MOBAs,battleroyale,andmetoversegames.

Earlystage=AngeltoSeriesA,Mid/LoteStage=SeriesBandlater,Other=Grants,Crowdfunding,InitialCoinOfferings,IPO,andPostIPO

DDM>GAMESINVESTMENTREVIEWTMO2024DDMGAMEINDUSTRYSERVICES-ALLRIGHTSRESERVED10

SpartanGroup9Investments

Q2RoundTotal(SM,USD)

Q2TopRoundValue($M,USD)

Stage

TopSegments

192.7

140.0

Early

Tech/Other,MCG,Browse

BlockchainsolutionsproviderZentryraised$140.0Minanearly-stagefundinground

MysticMoose,ablockchaingamesdeveloper,raised$10.5Minanearly-stagefundinground

BlockchainmobilegamesdeveloperGOMBLEraised$10.0Minanearly-stagefundinground

d6z

Andreessen

9Investments

Horowitz

Q2RoundTotal(SM,USD)

Q2TopRound

Value($M,USD)

Stages

TopSegments

69.2

45.0

Early

Tech/Other,BrowserMobile

GD

Legalandsafetycomplianceserviceproviderk-IDraised$45.0MinaSeriesAfundinground

Altera,anAl-drivengameNPCprovider,raiseda$9.0MinaSeedfundinground

Al-powered3DcharactermodelingtoolproviderYellowraised$5.0MinaSeedfundinground

BigBrain

8InvestmentsHoldings

Q2RoundTotal(SM,USD)

Q2TopRoundValue($M,USD)

Stages

TopSegments

60.5

12.0

Early

Mobile,Console/PC,

Tech/Other

BlockchaingamesinfrastructureproviderMirrorWorldraised$12.0MinaSeriesAfundinground

MysticMoose,ablockchaingamesdeveloper,raised$10.5Minanearly-stagefundinground

BlockchainmobilegamesdeveloperGOMBLEraised$10.0Minanearly-stagefundinground

TopActiveInvestorsQ22024(#1-5)

Ld

b

AnimocaBrands17Investments

Q2RoundTotal($M,USD)

Q2TopRoundValue($M,USD)

Stages

TopSegments

10.5

51.5

Early

Mobile,Tech/Other,Browse

MysticMoose,ablockchaingamesdeveloper,raised$10.5Minanearly-stagefundinground

BlockchainmobilegamesdeveloperGOMBLEraised$10.0Minanearly-stagefundinground

Blockchain/AIgamesrewardsplatformproviderRedactedraised$10.0Minanearly-stagefundinground

Polygon8Investments

Q2RoundTotal($M,USD)

Q2TopRoundValue($M,USD)

Stages

TopSegments

37.1

10.0

Early

Tech/Other,Mobile,MCG

BlockchainmobilegamesdeveloperGOMBLEraised$10.0Minanearly-stagefundinground

Blockchain/AlgamesrewardsplatformproviderRedactedraised$10.0Minanearly-stagefundinground

ParamLabs,ablockchaingamesdeveloperandinfrastructureproviderraised$7.0Minanearly-stagefundinground

sometransactionslsomayerepeatedfmultipeinvestorsivesteinthesameroundforthecompany.Welisthemostactwefimsbydealolumeaswellathetotalvalueothedistlseinvestmentsinwhichtheypartcpatedndtopvalueforsingedealalongwithsletinvestments.Further,ourinvestmentrackingfocusesondealshatinvokewesterncompanis.Asalwayssinceannouncementsdonottypicalllisthecontributionbreakdownbyfirm,wedonotincludeabreakdownofhowmuchisivestedbyeachfirm.

GAMESINVESTMENTREVIEWTM

O2024DDMGAMEINDUSTRYSERVICES-ALLRIGHTSRESERVED

Q2’s$845.0MAcrosS40M&AsLackedLargeDealsandIPOs

?Q22024M&Astotaled$845.0Macross40transactions(-59%invalueand-5%involumeoverQ1's$2.1Bacross43

transactions);whileM&Adealvolumehasmarginallydeclinedquarter-over-quartersinceQ42023's45transactions,Q22024'sM&Atotalvaluecanbeattributedtothelackoflargetransactionswhichinflatedpreviousquarters

?Forinstance,inQ22024,InfiniteRealityacquiredtheDroneRacingLeaguefor$250.0MwhichwasthelargestM&Aofthequarterrepresented30%ofthequarter'svalue;whereasinQ1GoldmanSachs,GeneralAtlantic,KIRKBI,andGlitrafjordacquiredKahoot!for$1.6Bwhichrepresented76%ofthequarterstotalM&Avalue

?InQ22024therewerenoM&AsfortheAR/VRandbrowsersegmentsinwhich,browserhasnotseenanM&AsinceQ12023?TherewerenoIPO'sinQ22024causingthequartertobreakanear5-yearstreakofatleastonecompanygoingpublicper

quartersinceQ32019whenDouYudebutedwitha$3.7Bmarketcapitalization

?HighestM&AsegmentbyvalueledbyConsole/PC(62%),followedbyeSports(31%),Mobile(7%),andTech/Other(<1%);

highestM&AsegmentbyvolumeledbyConsole/PC(30%),followedbyeSports(22%),Mobile(20%),Tech/Other(20%),andMCG*(8%)

?NorthAmericaledthequarterinbothM&Avalueandvolumetotaling$737.3Macross16transactions(87%ofthevalueand40%ofthevolume);Europeplacedsecondinvalueandinvolumetotaling$68.0Macross13transactions(8%ofthevalueand33%ofthevolume)whileROWtotaled$39.7Macross11transactions(5%ofthevalueand28%ofthevolume)

M&A(SM)

■AR/VRConsole/PCMobileTech/othereSportsVolume

SegmentsbyValue

口<1%

Tech/Other

3%

30%MiddleEastConsole/PC

40%

17%Asia

62%

Console/PC

7%

Mobile

20%口

Tech/Other

SegmentsbyVolumeRegionsbyVolume

5%3%

stinAmericaAustralia/NZ

Exits(M&A+IPOs)(SM)

20%

Mobile

22%eSports

32%

Europe

31%esports

8%MCG

NorthAmerica

*MassCommunityGames(MCG)aregamesdrivenbyonlinecommunityplay.IncludesMMOs,MOBAs,battleroyale,andmetoversegamesM8AVahIPOMarketCap—TotalM8A/IPOVolume

DDM>

GAMESINVESTMENTREVIEWTM

Q2’s$21.9BinCapitalDrivenbyFourFundsRaisingover$2.0B(74%ofQuarter'sValue)

?Q22024newfundanouncementstotaledS2.9Bacros38funds(+48%invalueand+23%inoumecomparedtoQ120243sS14.8Bacrs31fundsdrvenbyfourfundsraisingover$2.0Baccountingfor74%ofthecapitalraisedforthequarter:GeneralCatalyst'ss6.0B,ICONIQCapitars5.2B,NorwestVerturePartners's3.0B,andKeinerPerkins$2.0B

?InpiorreportsDDMhasmentionedhatfundmangershavestrugedoraisecapitalfromLPs;however,in22024,thisappearstobeeasingastheaveraecaptaaisedperfundincresedtoS575.8M(+21%invaluecomparedtoQi2024sS476.9M)whichisstidowndrasticalyromQ12022'sS45.9Bwithanaveragefundraiseof1.1B(-47%inalue

?IinQ22024artificalintliencewasamajorfocusasfundsinterestedinAlraised$4.3Bacros1funds-50%invalueand+57%involumecomparedto012024sS8.5Bacross7fundswithanAlinterest);lockchainlsocotiuestobeofinterestsblockchainaised1.5Bacross8funds(-82%invalueand-27%involumecomparedtoars8.5Bacros1fundswithablockchaininterest)andthisdeclineincapitalraisedisduetoAndreessenHorowit'ss7.2BfundraiseinQ12024whichacountedfor49%ofthequarter'svalue

?Athoughfundsthathadanearly-stgefocusledinnewfundscrated,undsthatfocusonbothearyandmid/ate-stageraisedthemoscaptalotaling12.6Bacross3funds(58%ofthevalueand34%ofthevolume)comparedofundswithaneary-stagefocustotaingS4.0