Investor Insights on GDC and Women in Game Investment: A Chat with Playcap
At this year’s GDC, we had an awesome event with PlayCap, bringing together some incredible minds in gaming investment. I had the chance to sit down with PlayCap’s founder, Bibbi Wikman, for an insightful conversation about her mission to get more women investing in the gaming industry. In this interview, Bibbi shares her vision for the future of gaming and why diversity in investment is more important than ever.
To learn more about PlayCap and their mission to empower women in gaming investments, visit PlayCap.gg!
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Could you start by telling us about Playcap’s mission and what inspired its creation?
The mission behind PlayCap is to bring more women from the games industry into investing within the same industry. I’m part of a women investor network in tech, and that’s partly where I drew my inspiration from since I realized this was missing in the games industry. Far fewer women are investing in games, often due to a lack of knowledge, access to investment opportunities, and support. That’s what I wanted PlayCap to provide as a group, bringing together women who are already investing with those who want to start. Women’s networks often focus solely on investing in women-led companies, but I wanted to take a different approach with PlayCap. Women should have the freedom to invest in whatever excites them, standing on equal footing with male angel investors.
Why is it crucial to increase the number of women involved in game investments, and how does that influence the types of projects that get funded?
It’s not just important, it’s smart business. Women make up 50% of players, so building games and game tech with diversity in mind isn’t just ethical, it’s strategic. We already know that diverse teams outperform, and the same logic applies to investors. A more diverse investor base leads to stronger, well-rounded decision-making, especially in angel investments, where backing a company goes beyond capital, also providing expertise and guidance. With more women at the table, we’ll not only see an increase in funding for women-led companies but also better overall decisions that drive long-term success.
Coming out of GDC, what trends or insights are you seeing that are shaping how studios are pitching their games or approaching development?
When it comes to game pitches, more studios are leaning into early access as a core release strategy to generate revenue while continuing development and working together with a community on the development. Teams are staying lean, with temporary resource needs outsourced rather than hiring full-time. Expectations around funding have also evolved. We’re seeing investors step in at the pre-seed stage but with seed-stage expectations, meaning they want to see solid data and early traction.
Were there any standout conversations at GDC that shifted your thinking on what makes a strong investment opportunity right now?
AI was either a core component or planned to be part of nearly every game or product I saw. What’s shifting now is that it's no longer enough to say, "This game experience is built with AI." Instead, it’s about who is crafting games with the most compelling art style or player experience powered by AI, the kind that truly resonates with and attracts the audience.
How do you see recent advancements — such as AI tools, productivity platforms, or emerging genres — influencing the kinds of studios Playcap is excited to back?
We’re definitely excited to back companies creating tools or platforms that support the industry or players in innovative ways. Genres can be a bit trickier when it comes to equity investments, but they’re something we’ll keep in mind as we explore project investments in the future.
What criteria does Playcap look for when deciding to invest in a game studio or project? Is a prototype essential, or are there other key indicators you prioritize?
Team and business opportunity is the most important factor at the stage we invest. Of course, early traction can make a decision easier.
What makes a pitch truly stand out to Playcap’s network, particularly in this challenging funding environment?
I’m personally excited by new business ideas driven by small, agile teams that show fast progress and a clear timeline. Just as important is having a team that’s friendly and easy to communicate with. After all, this is a long-term partnership.
For developers facing delays in funding rounds, what practical steps can they take to stay stable and keep momentum going?
Keep your investors in the loop. Regularly update them, meet them at conferences, and show consistent progress. Focus on any area where you can generate positive numbers that demonstrate traction.
How can small teams stay efficient and minimize burn rate without compromising creative ambitions?
Embrace the tools available today. Showing that you're not afraid to leverage them and using them to enhance your business and boost efficiency says more than 20+ years of industry experience.
Are there specific tools, strategies, or development approaches you’d recommend to studios looking to do more with less?
It’s hard to generalize since we invest so broadly within the games industry, but here’s what I’d say: stay lean, recognize the incredible women in the industry, and consider bringing them on as part of your team or as advisors.
Keep burn rates low, stay creative, and really understand what it takes to run a startup — not just to build a product. There’s a reason second-time founders are often the best to invest in. First-time startups tend to fail because the founders are passionate about creating the product but don’t fully grasp how to run a company or what to consider when bringing in investors.
Choose your key investors wisely, and don’t hesitate to ask around about others’ experiences with them. It’s a long-term relationship that can, in some ways, be more challenging than a marriage.
For more resources on indie game development, check out everything Unity has to offer at Unity's Indie Game Development Resources.