7 Dimensions of Fundability
From Game Dev to Game CEO: What It Takes to Get Funded
When we started Lorien, one of our core goals was to help game founders think beyond the game itself. Not just "how do we make something fun?" but "how do we build something fundable, repeatable, and scalable?" In other words, how do you build an end-to-end game business that an investor would not hesitate to get into?
Because here’s the truth, no one says directly: the best investors aren’t looking for games — they’re looking for huge outcomes.
If you’re a founder building a game and hoping to raise funding, your odds go up dramatically the moment you stop chasing capital and start building something so compelling it becomes impossible to ignore. That’s what investment readiness really means.
This post is a breakdown of how investors think, what they’re actually looking for, and how you can evaluate your own startup to become truly fundable. It’s the distilled essence of our Investment Readiness Masterclass at Lorien, designed specifically for founders in games, gametech, and interactive entertainment.
Why VCs Say No (Even When They Like You)
VCs manage money on behalf of LPs (limited partners) like family offices, high-net-worth individuals, and endowments. These funds expect a return — ideally 3x to 10x — over 7 to 10 years. And to deliver that, VCs need their investments to follow power law logic: a few hits must carry the entire portfolio.
That means they don’t just invest in "cool teams" or "unique games." They invest in:
Founders w/ relevant past experience & huge passion
Category creators or potential market leaders
Repeatable execution systems (not just one-off games)
Founders who can tell a vision story and deliver on it
So even if you’re talented, even if your game looks good, if they can’t see how this might become a huge, scalable win, they might pass.
They’re not evaluating whether you can make something. They’re evaluating whether it can return the whole fund alone.
VC vs Publisher: Know Who You’re Pitching
One of the most common mistakes we see is founders approaching VCs the way they’d pitch a publisher.
But here’s the difference:
VCs invest in your company; publishers invest in your game.
VCs take equity or ownership from your company, while publishers take a revenue share or IP rights.
VCs want long-term upside while publishers are looking for milestone delivery.
So, in the overall, VCs bet on you, publishers bet on your roadmap.
VCs think in terms of systems, scalability, and long-term market positions, along with founders’ backgrounds and why they would be the right fit. Publishers think in timelines, risk mitigation, and launch success. If your pitch is "we have a finished build and need launch support," that’s not a VC conversation. If it’s "we know this space, we’ve built a core loop and early traction shows long-term potential," that’s closer.
Your fundraising narrative must fit the listener’s needs and worldview.
What Investment-Readiness Actually Means
At Lorien, we define investment readiness through 3 core lenses:
1. Vision Clarity
Why now? Why this team? Why this market?
Is there a solid story of long-term potential?
2. Execution Credibility
Can you build what you say?
Is there early proof that the product works and users want it?
3. Structural Readiness
Is your company set up to receive investment?
Is your cap table, IP, and legal structure clean?
You don’t need to be perfect. But you do need to be clear.
The Lorien Framework: 7 Dimensions of Readiness
We use a 7-point starting framework to help our portfolio evaluate and improve their fundability:
Team – Is your core team full-time, experienced, and capable of shipping?
Product – Do you have a playable core or real progress beyond just a pitch deck?
Traction – Have players tested the game? What does the data say?
Go-To-Market – Do you know your audience and how to reach them?
Funding Plan – Is there a clear, responsible financial model and ask?
Partners & Publishing – Are you building relationships that validate and accelerate?
Legal & Structure – Are you investable on paper?
Most teams are strong in 2–3 of these. That’s normal. But weak points can sometimes kill deals. Investors pattern-match risk. Your job is to be aware of your company’s weaknesses and de-risk yourself.
In 2025, A Vertical Slice Isn't Enough
This is hard to hear, but true: in today’s market, a great vertical slice doesn’t always get you funded. Not alone.
We’re in a post-2022, post-zero interest rate world. VCs are cautious, and they’re looking for:
Playtest data
Community momentum
Retention signals
Clear market timing
If you haven’t tested your game with real players yet, start there. If you haven’t built a waitlist, Discord, or TikTok audience, start there. Investors want to see that someone wants this besides you.
Choosing the Right Investors (Not Just Any Investors)
The first thing to remember here is that due diligence should go both ways. As potential investors evaluate your team and business, you should also be doing your homework.
Not all VCs are the same. They have:
Different fund sizes
Different theses (content vs tools vs tech)
Different check sizes and timelines
Before you pitch anyone, study:
What kinds of companies have they backed?
Do they lead or follow?
Are they stage-aligned with you?
And do reference checks. Talk to the founders in their portfolio. Ask:
What are the stories behind the top-performing & failed companies in their portfolio?
Were they helpful or just reactive?
Did they show up in hard moments?
Would you raise from them again?
Raising money is a partnership, not a transaction. Founders often spend more time optimizing their pitch than vetting the people they’ll be tied to for the next 5+ years.
Do your homework.
Final Thoughts: From Game Dev to Game CEO
You don’t need to turn into a spreadsheet founder. But you do need to build like someone who understands what it takes to raise and scale.
Fundability is not a label. It’s a discipline. And, like coding, it’s a learnable skill.
Use the frameworks like Lorien’s. Prepare for the next steps. Identify your weak spots. Iterate. Talk to investors, be brutally honest, and open to feedback. Iterate.
Because investors don’t fund games, they fund founders & businesses. They fund momentum. They fund clarity.
If you’re a founder who’s serious about building not just a great game but a great business, Lorien is for you. We’re looking for founders who understand that creativity and strategy go hand in hand.
We help you build something bigger than just a game; create a game business, momentum, and clarity.
Let that be you.
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