Lirui Ding

Lirui is a Principal at a leading gaming VC Transcend Fund. Transcend Fund has invested in over 40 gaming companies globally including thatgamecompany (developer of Sky: Children of the Light), BrainJar (developer of Dead as Disco), Ruckus Games (developer of The Holdouts), Singularity 6 (developer of Palia), Stress Level Zero (developer of Boneworks and Bonelab), Midsummer, Methodical, Treehouse, etc.

Prior to Transcend, Lirui worked with the Executive Leadership team at Activision Blizzard on a range of pivotal initiatives from M&A, investment strategy to game development and strategy review. Lirui was also a global top 20 esports player with 400+ APM. 

Lirui is a regular speaker at global gaming industry conferences including DICE, Gamescom / Devcom, ChinaJoy, PGC, MWC, etc. 

Funding the Future 2.0: Global Capital Strategies and the New Investment Playbook

The gaming industry is experiencing the most severe funding contraction in recent memory. Global venture investment in gaming startups peaked at $13 billion in 2021, reducing sharply to $800m in Q1 2026. However, the $55 billion leveraged buyout of Electronic Arts - the largest private equity transaction in gaming history - and Savvy Games' $6 billion acquisition of Moonton underscored that buyers continue to pay premium prices for scaled assets. The divergence is stark: acquirers are writing some of the largest checks in gaming history even as early-stage venture capital has dried up.

Against this backdrop, studios can no longer treat traditional equity financing or publisher deals as their default path to capital. A new generation of funding structures has emerged to fill the gap - from project financing (without publisher) and equity + recoup hybrids, to PC/console UA financing and alternative capital sources that many studios have yet to fully explore.  This session is designed to give developers and founders a practical working knowledge of how each funding mechanism works, what it costs, and when it is the right tool for a studio's stage and goals. Attendees will leave with practical guidance on navigating the fundraising process, and a clear picture of which business models and genres are currently attracting capital.