TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Starbreeze to raise SEK250m (£21.8m); GP Bullhound closes €125m (£114m) fund; KAT VR passes £1m crowdfunding for Walk C treadmill. Starbreeze to raise SEK250m Stockholm-based developer Starbreeze AB has announced that it intends to raise SEK250m (£21.8m) in a new issuance of class A and B shares, as a result of delays in finding a publishing partner for its upcoming Payday 3 title due to the Covid-19 pandemic. [...]

Live music, film, TV, health, and social networking. Once distinct sectors with limited overlap with the video games sector, in recent months we have seen increased crossover between each of these and gaming, fuelled by the ever-increasing adoption of digital, the persistent engagement of video game audiences, and the temporary halt of physical events in the wake of Covid-19. While music festivals have faced postponement, in-game concerts in multiplayer platforms such as Roblox, Minecraft, and Fortnite, are thriving. After a [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Grishin Robotics raises USD$100m (£80.1m) fund; China iOS games to require government approval; and FaZe Clan gains stake in CTRL. Grishin Robotics raises USD$100m (£80.1m) fund Silicon Valley investment firm Grishin Robotics, founded by Mail.ru Group Founder and Chairman Dmitry Grishin, has raised USD$100m (£80.1m), in a move which will see the vehicle expand from its traditional territory of hardware into video gaming and interactive entertainment, alongside educational [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Apple faces European antitrust investigation; FirstMark raises USD$650m (£515m) fund duo; and Eidos-Montréal to open Eidos-Sherbrooke. Apple faces European antitrust investigation Apple is facing a formal antitrust investigation by the European Commission over claims the California-based tech giant is stifling competition by taking a high rate of commission on payments to third-party developers through the mandatory use of its App Store in-app payment system, whilst simultaneously promoting its [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent becomes largest shareholder in Marvelous; We Are Nations launches Nations Ventures; and IGDA launches global indie collective. Tencent becomes largest shareholder in Marvelous Tencent Holdings Ltd. is set to become the largest individual shareholder in Marvelous Inc., with its wholly-owned subsidiary Image Frame Investment Limited purchasing a 20% stake in the Japanese developer-publisher for approximately JP¥7bn (£53m). As well as the issuance of 8.62 million shares by [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Stillfront Group acquires Candywriter; Transcend Fund raises USD$50m (£40m); and UK and German market revenue figures announced. Stillfront Group acquires Candywriter Stillfront Group AB has announced that it has signed an agreement to acquire 100% of the shares in casual mobile developer-publisher Candywriter, LLC for an upfront consideration of USD$74.4m (£60.2m) in cash (USD$36.9m/£29.9m) and the issue of 708,463 Stillfront shares. Should Candywriter hit internal EBIT targets up [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: ValueAct gains USD$1.1bn (£891m) stake in Nintendo; US game sales up 35%; and Boost VC closes USD$40m (£32m) fund. US game sales up 35% US consumer spend across video game hardware, software, and accessories, increased by 35% during March 2020 when compared to last year, reaching USD$1.6bn (£1.3bn), according to estimates released by The NPD Group. Despite being the most lucrative March for the US video games industry [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Lightspeed raises USD$4.2bn (£3.3bn) fund trio; Esports Entertainment Group in USD$8.4m (£6.7m) IPO; and SIE announces USD$10m (£7.9m) development fund. Lightspeed raises USD$4.2bn (£3.3bn) fund trio California-based VC firm Lightspeed Venture Partners has announced that it has raised a trio of investment funds, which combined are worth in excess of USD$4.2bn (£3.3bn). These comprise of a USD$890m early-stage fund, termed Lightspeed Venture Partners XIII LP; a USD$1.83bn (£1.45bn) [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Embracer Group raises SEK1.65bn (£133m); N3TWORK opens USD$50m (£40m) developer growth fund; and Quest Ventures raises USD$50m (£40m) VC fund. Embracer Group raises SEK1.65bn (£133m) Embracer Group AB has announced that it has raised SEK1.65bn (£133m) through the direct issuance of 18.5 million Class B shares, approximately 5% of total outstanding share capital. According to the Karlstad-based holding group, over 100 firms subscribed to the issue, including Skandia, [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Kleiner Perkins closes USD$700m (£542m) fund; Veritas raises USD$10m (£7.7m); and Improbable operating losses hit £63.7m. Kleiner Perkins closes USD$700m (£542m) fund Silicon Valley venture capital firm Kleiner Perkins has closed its largest fund to-date, KP 19, which is worth USD$700m (£542m). The fund will largely mirror that of its predecessor KP 18, in that it will support seed- and Series A-stage startups operating in the consumer, enterprise, [...]