With plans to raise as much as $500M in its forthcoming IPO, Candy Crush maker King stands to be among the largest gaming exits in recent history – and should net a windfall for VC backer Index Ventures.
So given the anticipated IPO, we used the interactive “Rankings” feature on CB Insights to help identify the top 10 largest venture-backed M&A or IPO exits in digital gaming over the past five years. Six of the exits went to internationally-based companies, in line with the shift of mobile gaming VC deals to developers based outside the U.S.
The top 10 by valuation at the time of exit is led by Zynga’s 2011 IPO. In terms of backers in top gaming firms, two venture firms stand out: Index and Benchmark Capital. Index is a backer of Supercell and Betfair, while Benchmark counts Riot Games and Natural Motion, a recent Zynga acquisition among its gaming exits. Benchmark was also in GaiKai, acquired by Sony in 2012 for $380M. Note: SoftBank’s move to obtain a majority stake in ‘Clash of Clans’ developer Supercell was included on the list, though its VC backers including Index, Accel and Atomico are said to have not fully exited the company.
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