Before sending your materials, please read the following note carefully.

Like many top publishers and investment funds, Nocturne has a specific investment thesis and adheres strictly to it. The purpose of this document is to share our thesis with you, so you understand the type of game we're interested in. Additionally, we want to provide information about our application review process and highlight the key criteria your team needs to meet.

What are we looking for?

Our investment thesis centers around what we term the "Unique Situation Generator" (USG). A USG, or "Systemic Game," is a video game category designed to deliver an infinitely replayable experience to gamers. Each playthrough offers a distinct strategy and decision-making experience.

Genres like multiplayer match-based games are, by definition, USGs. Other common genres include city builders, survival sims, true roguelikes, and physics-based puzzle games.

Some well-known USG genres are Sandbox, Simulation, Strategy, Open World, RPG, City Builder, MOBA, Management, Survival, Roguelike/Roguelite, Tower Defense, Deck Builder, MMORPG, Crafting, and Automation.

We're seeking premium, PC-first games with a total budget between 500k and 1.5M euros. Our focus is global, with an emphasis on Europe, North America, and Latin American countries. We also aim for a maximum production timeline of 24 months. A playable version of the game is required for application, and we prefer teams who have prior experience building a playable game together. Teams must also hold at least 51% ownership in their studio and intellectual property.

We don't collaborate with publishers and encourage teams to plan to self-publish their games. While Nocturne provides advisors and a network of qualified third parties for assistance, the studio remains responsible for game publishing.

Our focus is on a fun, strong USG concept, but we're genre-agnostic so long as the game is a USG. Nocturne values community marketing, and we believe that only games with a strong USG concept align with our go-to-market strategy.

Our 5 pillars of content evaluation


When assessing a game's potential, we consider its unique features, the X-factor (a compelling environment or unique mechanic), the core gameplay loop (repetitive engaging activities), its artistic direction, and potential technical challenges. We identified these aspects to ensure a smooth development process and a game that stands out.


The application process analyzes several factors. First, similar games' performance is reviewed, considering their reception and sales, to predict the new game's success. Potential audience size is studied, factoring in demographics and gaming trends, to estimate the game's reach. Revenue forecasts are made to guide budgeting decisions. Lastly, a competitive analysis, including market trends, upcoming releases, and rivals' unique selling points, is conducted to ensure the game's distinctiveness in the competitive market.


We are looking for teams that love building games together. We value past experiences highly. While teams with previous success together are particularly appealing to us, first-time developers are also welcome, provided we get a sense of your having good work habits and a healthy work environment.

Long Term

We also consider the longevity of your concept. Is there room for Downloadable Content (DLC)? What paths are available to extend the player’s experience in your concept?


A sign of a robust USG (Unique Situation Generators) concept is the game's suitability for promotion via streaming services. This is often referred to as a streaming score. Consider whether the game can be wikified, as in, will players be inclined to create wikis to detail their strategies? Additionally, is the game experience replayable? Take chess as an example; it's always the same game, but each session is unique.

Our evaluation process

Our process comprises six steps, as detailed below. The entire procedure can take up to eight weeks, but we strive to assess your project as quickly as possible.


First, a Game Scout, Analyst, and one Partner will assess the game, the studio's track record, and USG-ness, and will also hold a meeting with one of the founders. We verify how your proposal aligns with our investment thesis.


A collective play session with five core team members, including two partners, allows us to experience the potential of your concept. We value the x-factor your concept brings.


The Partner in charge will lead the revenue forecast using Steam and console data. They will also manage the expected performance for us. We highly value the financial potential of your game.

Due Diligence

We conduct legal and financial analyses, assess production plans, budgets, and the project capabilities of the wider team. Additionally, we verify the authenticity and integrity of every document you provide.

Investment Committee

We hold weekly investment committee meetings with partners. A decision requires four out of five 'yes' votes, with the addition of selective advisor input. We make the final decision collectively and update you as promptly as possible.

Closing and Legal

We collaborate with top-tier gaming lawyers to draft a global contract and fine-tune future milestones for precision and clarity. Together, we establish a production plan that includes the development of your game, along with milestone and community validation steps.

A standard deal

Our goal is to propose the fairest deal available. At Nocturne, we are committed to maintaining healthy relationships with all our studios. We believe that transparency and fairness underpin these relationships. We have structured a standard deal for long-term partnerships and will adhere to it.