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It seems to be a common problem with Avast and such
If it still doesn't work, try reinstalling steam CLIENT (I'm not telling you do re download your games, delete everything besides steamapps maybe)
SteamAPI_Init:Failed:
Simply backup (or move, it's faster if on the same partition (not HDD)) your steamapps folder somewhere, uninstall and reinstall steam, then move the steamapps folder back (or add it as a "game folder" in steam options, I can't help you more I have no client availiable here)
Huh ? I've set the steam.exe to run as admin and I've never experienced this bug.
It's a well documented problem if you read the Steam API documentation.
No sorry, I haven't read steam api documentation XD
I've set some games (Neptunia) to run as admin but none of my other games are set to run as admin.
I was flabbergasted when I saw that. Somebody at BANDAI NAMCO is doing something EXTRA in addition to checking the return value of SteamAPI_Init when they put that error message up, but I didn't really have time to figure out what. Debugging stuff without source code can be fun, but this, is downright torture.
By the time I got that deeply involved trying to track this problem down, it just disappeared.
There's a slim chance me initializing Steam API first may change something here.
http://steamcommunity.com/app/351970/discussions/0/490123938441506815/
If nothing else, it will spit out a debug log: logs/steam_api.log that might be helpful.