Weekly News Digest #34
# of announced deals
4
announced deals’ size
$8m
# of closed deals
4
Last week was marked by a lack of significant transactions to feature in our digest. During this calm period, we are dedicating our efforts to preparing new research that we will share with you soon, so stay tuned!
As always, you can review the noteworthy deals from the previous week in the ‘Notable Transactions’ section below.
We thank MY.GAMES and Xsolla for supporting this digest.
| NOTABLE TRANSACTIONS |
MERGERS & ACQUISITIONS
Singapore-based outsourcing games developer Virtuos has acquired UK-based outsourcing games developer Third Kind Games for an undisclosed sum. This acquisition is part of Virtuos’ expansion into the UK games development market. Third Kind Games, which contributed to the development of Sea of Thieves, Fable, Forza Horizon 4, Hearthstone, and Predecessor, plans to double its workforce within two years following the deal.
VENTURE FINANCING
US-based gaming tech company Mudstack has secured $4m in a funding round led by Anthos Capital, with participation from a16z Games, Khosla Ventures, Pioneer Square Labs, and Hyperplane. The funds will support the company’s technology, which aims to streamline production processes and internal game developers’ collaboration. This round takes place amid the company’s collaboration with two partners: Paradox Studios and Metacore. The company also hired Microsoft veteran and former a16z partner James Gwertzman as CEO.
Puerto Rico-based web3 social gaming ecosystem Soulbound has secured $4m in a funding round with participation from iAngels, Animoca Brands (ASX: AB1), Big Brain Holdings, NGC Ventures, Panony, Delta Blockchain Fund, and others. The funds will be used for corporate development and new partnerships. Previously known as Saga, the company is now developing the Popdrip platform, which focuses on streaming and bounty programs.
US-based community platform the*gameHERs has secured undisclosed funding in an investment round from Dunhill Ventures. The funds will support the company’s app growth opportunities. The app provides women with various opportunities to make communities around gaming, streaming, attending events and communicating.
