Weekly News Digest #17
# of announced deals
11
announced deals’ size
$8.2m
# of closed deals
10
Last week, there were no major transactions featured in our digest. During this quieter period, we are focusing on preparing new research to share with you — stay tuned!
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MERGERS & ACQUISITIONS
US-based esports league organizer PlayVS has acquired US-based esports companies Generation Esports and Playfly College Esports for an undisclosed sum. These acquisitions are part of PlayVS’s strategy to strengthen its market position across the scholastic and collegiate esports segments. As a result of the deals, PlayVS now covers over 900 colleges offering various esports disciplines across North America. The company previously expanded into Canada through its acquisition of GameSeta in Jan’21.
VENTURE FINANCING
Singapore-based web3 game and application engine developer MagicBlock Labs has raised $7.5m in a Seed funding round led by Lightspeed Faction, with participation from Delphi Digital, Maven 11, Mechanism Capital, Robot Ventures, Equilibrium, Pivot Global, and angel investors. The funds will be used to expand the engineering team, enhance the development of MagicBlock’s on-chain game and application engine for the Solana network, and support the growth of its broader developer ecosystem. The company previously raised $3m in Sep’24.
Turkey-based multiplatform game developer HOGO Games has raised led by Red Axe Games and a group of angel investors amount at a valuation of $5 million in a round led by Red Axe Games and a group of angel investors. The investment will support team expansion, the development of new titles, and continued support for the studio’s existing games. Hogo Games is currently focused on PC game development, although its portfolio includes four PC titles and nine mobile titles.
UAE-based mobile game developer Rise of Fearless has launched a $700k funding round to support the growth of its Africa-set battle royale F2P title and to advance its expansion into web3. The funds will be used for product development, user acquisition, and infrastructure to support the company’s broader strategic growth in emerging markets.
FUNDRAISING
Blue Ocean Games, an investment fund backed by Krafton (KRX: 259960), has launched a $30m fund aimed at supporting indie game developers. The fund plans to invest in approximately 100 studios over the next three years, providing funding of $100k per developer (up to $300k per team), distributed over two years through a hybrid equity and revenue share agreement. In addition to funding, the program will provide legal assistance and mentorship. Submissions will open in early May’25.
South Korean gaming holding Krafton (KRX: 259960) has expanded its Krafton India Gaming Incubator, launched initially in Mar’24, to cover more regions within India. The incubator now supports six startups: Kleanup Games, Advaita Interactive, Smash Head Studio, Singular Scheme, Unwind Games, and Ginger Games. These startups will each receive development and administrative support over the next six to twelve months, including funding between $50k and $150k.
EARNINGS REPORTS
| Report Date | Company Name | Earnings Release Presentation |
|---|---|---|
| 2025-04-15 | Devolver Digital, Inc. | Devolver Digital FY24 |
| 2025-04-16 | PulluP Entertainment Group | PulluP FY24 |
| 2025-04-17 | DON’T NOD Entertainment S.A. | Don’t Nod FY24 |
| 2025-04-22 | Stillfront Group AB | Stillfront Group FY24 |
| 2025-04-24 | Enad Global 7 AB | Enad Global 7 FY24 |
| 2025-04-24 | Paradox Interactive AB | Paradox Interactive Q1’FY25 |
