Introduction
Hi, I’m Kevin Eun, and I’m originally from South Korea. Growing up, I had the unique experience of living on four different continents, which has shaped who I am today. I spent the first 12 years of my life in Russia before moving back to Korea. After returning, I felt the urge to explore more of the world, so I moved to New Zealand for middle school and later attended boarding school in Maryland, USA, for high school.
From a young age, I was passionate about gaming and always dreamed of being involved in the industry somehow. During high school, I started an eSports team, and I continued that passion at the University of Southern California, where I ran the eSports team there as well. My time in college was all about finding the right path to get into gaming. I changed my major three times—starting with Classics, then Business, and finally landing on Mathematics and Economics—each change bringing me a step closer to where I wanted to be.
As I started researching how to break into the gaming industry, I discovered that corporate development at major publishers like Activision Blizzard was my best shot. But getting into that role wasn’t easy; it required prior experience in investment banking, private equity, or consulting. Without knowing much about these fields, I dove into investment banking, figuring it was the most direct route to my goal.
I began my career at an investment bank in San Francisco, focusing on the technology sector. My work involved advising companies on mergers and acquisitions, IPOs, and various financing deals. It was intense but gave me the experience I needed to finally break into the gaming world. After about two years in banking, I started interviewing with gaming companies that I had admired since I was a kid. However, instead of jumping directly into a gaming company, I found myself drawn to venture capital—specifically a firm that focused on investing in gaming companies. It felt like the perfect blend of my interests and skills.
Working in gaming venture capital is unique because it’s still a relatively new business model. My job is about more than just investing; it’s about understanding what makes games and their creators special. I spend my days meeting with founders, analyzing the latest trends, and diving deep into what makes a game successful. I’m constantly on the lookout for the next big idea, supporting founders who are pushing the boundaries of what’s possible in gaming.
Now, I’m not just a fan of games; I’m part of the industry I’ve always loved, helping shape its future. From meeting brilliant minds to seeing innovative ideas come to life, my journey has been about finding the right fit and making an impact in the world of gaming.
Finance Fellow
career options
The gaming industry offers diverse career opportunities, including roles such as a founder, investor, corporate development professional, and operator. Founders create and lead gaming startups, turning creative visions into successful games or technologies. Investors specialize in identifying and funding promising gaming companies, guiding them with capital and strategic advice. Corporate development professionals at large gaming companies drive growth through mergers, acquisitions, and partnerships, shaping the company’s competitive strategy. Operators work closely with venture capital firms, managing gaming portfolio companies by providing strategic insights and operational expertise. Each path offers unique ways to impact the gaming landscape, from launching new ventures to driving strategic growth in established companies.
Finance Fellow
skills
What are the main hard skills you use on a daily basis in your current job?
Financial modeling is essential in gaming venture capital as it provides a structured approach to evaluating the financial viability and potential return of gaming investments. Through detailed projections of revenue, expenses, cash flow, and key performance metrics, financial models help investors assess the scalability and profitability of gaming companies. These models enable venture capitalists to make data-driven decisions, compare different investment opportunities, and identify the key drivers of value within a gaming business. Additionally, financial modeling aids in structuring deals, valuing companies, and planning exit strategies, ensuring that investments are aligned with financial goals and risk tolerance.
Drafting investment memos is critical for effectively pitching to the investment committee within a gaming venture capital firm, as these documents encapsulate the rationale behind potential investments. A well-crafted memo provides a comprehensive overview of the target company, including its business model, market opportunity, competitive landscape, and financial projections. It outlines the strategic fit with the firm’s investment thesis and addresses potential risks and mitigation strategies. Clear and persuasive investment memos not only facilitate informed decision-making but also demonstrate the investor's analytical skills and understanding of the gaming industry, ultimately increasing the likelihood of securing approval for funding.
Sourcing investment opportunities in the gaming sector is vital for an investment professional at a gaming venture capital firm, as it directly influences the firm's ability to identify and capitalize on high-potential startups. A robust sourcing strategy involves building a strong network within the industry, attending gaming conferences, and leveraging relationships with founders, developers, and other investors. By actively seeking out emerging trends, innovative technologies, and promising teams, investment professionals can uncover unique opportunities that align with their firm’s investment thesis. This proactive approach not only enhances the firm’s portfolio but also positions it as a key player in the dynamic and rapidly evolving gaming landscape.
What are the main soft skills you use on a daily basis in your current job?
Effective communication is critical in conveying complex investment ideas and analyses clearly to stakeholders, including colleagues, investment committees, and founders. This skill is cultivated through practice in various settings, such as pitch meetings, presentations, and networking events. It is essential when discussing potential investments, negotiating terms, or providing feedback to portfolio companies.
Establishing and maintaining strong relationships within the gaming industry is vital for sourcing investment opportunities and fostering collaboration. This skill has been developed through active networking at industry events, consistent follow-ups with contacts, and engaging in mentorship or advisory roles. It is particularly important when nurturing partnerships with founders, co-investors, and industry experts, enabling trust and open dialogue.
Strong analytical thinking allows for the effective evaluation of investment opportunities and the assessment of risks and returns. This skill has been honed through hands-on experience with financial modeling, market analysis, and competitive assessments. It comes into play during due diligence processes, where careful analysis of a startup’s business model, financial health, and market positioning is crucial for making informed investment decisions.
Kevin
’s personal path
Tell us about your personal journey in
Finance Fellow
:
From a young age, I harbored a deep passion for the gaming industry and was determined to carve out a career within it. However, my journey has been anything but straightforward, particularly as an individual from an international background. The complexities of obtaining employment in the United States, compounded by visa restrictions and the limited number of companies willing to hire foreign workers, presented significant challenges.
In my early endeavors, I actively sought ways to immerse myself in the gaming world. One notable experience involved translating for Korean eSports players who were competing internationally in titles such as League of Legends and StarCraft II. These players were part of eSports teams that have since become global powerhouses. This role not only enhanced my understanding of the industry but also fueled my passion for gaming at a deeper level. Despite these formative experiences, the path to my current position has been fraught with uncertainty and obstacles.
I spent countless hours grappling with doubts about my ability to secure a role in the gaming sector, particularly in the competitive U.S. market. Reflecting on my journey, I recognize that while strategic planning and diligent research played crucial roles, a significant element of my success can be attributed to serendipity. The outcome of my efforts was not just a product of meticulous planning but also an unpredictable twist of fate. My aspirations evolved over time, leading me to become an investor in the gaming space, a trajectory I had not initially anticipated.
My approach involved thorough research into the gaming industry and exploring various pathways to enter it. Although I lacked a mentor to guide me through this complex landscape, I navigated my way through sheer perseverance and a strong work ethic. Ultimately, this journey underscores that success in the gaming industry is rarely a linear process; it requires resilience, adaptability, and the willingness to embrace unexpected opportunities.
What would you tell your younger you regarding building your current career?
While it may seem somewhat unconventional to frame this in gaming terminology, I firmly believe that work ethic serves as the foundation that enables one to capitalize on opportunities, often perceived as luck. Even when chance presents itself, without a robust work ethic, individuals may find themselves unprepared to seize those fleeting moments.
In any field, dedication and smart effort are paramount. Committing to hard work not only enhances skills and knowledge but also builds resilience and adaptability—qualities essential for navigating the complexities of professional environments. There may come a time when luck favors you, and it is those who have invested time and energy into their craft who will be best positioned to leverage that opportunity.
Ultimately, success is rarely a product of chance alone; rather, it is the culmination of persistent effort and preparation, allowing individuals to transform potential luck into tangible achievements. This philosophy reinforces the idea that diligent work, paired with an openness to opportunities, creates a fertile ground for success in any endeavor.
Final thoughts & tips
Historically, gaming was often regarded as a niche subculture, and I experienced firsthand the ridicule associated with my passion for video games. However, the landscape has transformed dramatically, with the gaming industry now surpassing many traditional sectors of entertainment and media in both revenue and cultural influence. This evolution underscores a crucial lesson: the trajectory of trends is often unpredictable, and what may seem trivial today can become the next major phenomenon tomorrow.
As individuals navigate their professional journeys, it is essential to identify areas where personal passion intersects with skill. Pursuing a passion not only fosters intrinsic motivation but also enhances the likelihood of achieving excellence. By diligently honing one's craft and committing to continuous improvement, individuals position themselves to capitalize on emerging opportunities in their chosen fields. Embracing this mindset allows for a proactive approach to career development, ensuring readiness to engage with the next big breakthrough—whether in gaming or any other industry.
Resources to dig in more
Gaming Pitch Deck Template
Pitch decks are crucial tools for investors as they provide a concise and visually engaging overview of a startup's business model, market opportunity, and growth potential
P&L Template
A Profit and Loss statement (PnL) summarizes a company's revenues, costs, and expenses over a specific period, providing insights into its financial performance and profitability.
InvestGame
Aggregates and stores all the relevant data on gaming venture capital, public offerings, and merge and acquisition deals. Dates, deal sizes, deal types.
