Weekly News Digest #21

Before we check last week’s deals, here’s a quick reminder: on our Patreon, you can purchase each investment dataset individually. Each file includes a structured table covering every funding round and acquisition, investment amounts, transaction types, key players, and direct source links — essential for investors and industry professionals who need reliable data without committing to a full subscription.

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📄 Signing the Term Sheet? You’re Just Getting Started.

It feels like the deal is done — but term sheets are just the opening act. The real work begins after the signatures.

This new piece from REVERA breaks down what it takes to get from handshake to closing — and why even great deals can fall apart without the right execution.

🔹 The term sheet is your blueprint. Nail the structure early, or prepare for costly rewrites.

🔹 Due diligence tests trust. Fast, transparent responses keep momentum (and credibility).

🔹 Legal docs translate intent. If both sides read them differently, you’re headed for conflict.

🔹 Closing isn’t a formality. Without a playbook, simple things — like a vacation or a PDF error — can block the finish line.

🔹 Post-closing is part of the deal. Miss a follow-up (like IP transfer or option grants), and the consequences hit hard.

🎯 Want your deal to go smoothly? Treat it like a project — structured, predictable, and built for real-world execution.

👉 Full breakdown from REVERA

MERGERS & ACQUISITIONS

India-based digital gaming and esports company Nazara Technologies (NSE: NAZARA) has acquired 100% of UK-based PC & Console game publisher Curve Games from entertainment group Catalis Group for $28.9m (₹2.47B). The acquisition includes Curve’s internal development studios: UK-based Runner Duck and Canada-based IronOak Games. The deal is part of Nazara’s expansion of its publishing capabilities. Curve Games will continue to operate independently following the deal. This acquisition follows Nazara’s earlier capital raises, including $108m via preferential share issuance in Sep’24 and a $57.2m fundraise in Jan’25, supporting its ongoing non-organic growth strategy.

Singapore-based web3 gaming ecosystem developer WARP has acquired Austria-based web3 gaming company NitroDome for an undisclosed sum. The acquisition is part of WARP’s strategy to expand its gaming infrastructure, leveraging NitroDome’s capabilities to accelerate product deployment and token issuance. NitroDome will fully integrate into WARP’s ecosystem, including its IP and team. As part of the integration, NitroDome’s founders will join WARP as Head of Platform & Product and CTO, respectively. Additionally, WARP has raised $9.4m in a Seed funding round from undisclosed investors.

VENTURE FINANCING

Germany-based web3 mobile game developer VOYA Games has raised $5m in a funding round co-led by 1kx and Makers Fund, with participation from RockawayX and a group of angel investors. The funds will support the development and launch of the company’s debut title, Craft World, which is currently in the testing phase and scheduled for release in late 2025. Craft World is a free-to-play (F2P) casual resource management game on mobile and web platforms. During testing, the game attracted over 50 thousand MAU and features two integrated NFT collections.

UK-based game tech startup PlaySafe ID has raised $1.12 million in a pre-Seed funding round led by Early Game Ventures, with participation from Hartmann Capital and Overwolf. The funding will support the company’s expansion efforts and strategic platform integrations. PlaySafe ID is building a platform focused on safe and fair gaming to eliminate cheaters, hackers, and other disruptive elements from online gaming environments. With this new capital, the company plans to accelerate growth and reach 250,000 users in the coming months.

PUBLIC OFFERINGS

US-based game developer and publisher Take-Two Interactive Software (NASDAQ: TTWO) has announced a $1B public offering of common shares. The company also intends to grant underwriters a 30-day option to purchase up to an additional $150m of common stock, exercisable at the public offering price. Proceeds from the offering will be used for general corporate purposes, including debt repayment and potential M&A activities.

Sweden-based gaming giant Embracer Group (STO: EMBRAC B) has initiated the divestment of Sweden-based multiplatform game developer Coffee Stain & Friends as a standalone entity. As part of the transaction, Embracer plans to distribute Coffee Stain & Friends shares to its shareholders and list the new entity on the Nasdaq First North Premier Growth Market. The deal is expected to close by the end of 2025. The Coffee Stain & Friends group will include Coffee Stain, Ghost Ship Games, Tuxedo Labs, and select studios from Amplifier Game Invest. According to the company’s press release, the group generated pro forma net sales of $100m (SEK 1,089m), Adjusted EBIT of $50m (SEK 544m), and EBITDAC of $48m (SEK 526m) in 2024. In parallel, Embracer Group will rebrand as Fellowship Entertainment, including over 40 companies such as 4A Games, Aspyr, CrazyLabs, Eidos, Middle-earth, THG, Tripwire, Warhore, Plaoion. This move follows the group’s previously announced plan in Apr’24 to separate Embracer into three standalone entities, and Asmodee’s public listing in Apr’25.

FUNDRASING

Enchant has launched a three-month accelerator program targeting early-stage teams at the intersection of gaming and artificial intelligence. Participants will receive legal and marketing support and assistance in preparing for future fundraising, including pitch development and fundraising strategy. The accelerator is zero-equity, meaning founders retain full ownership without equity dilution. The program is backed by a founding team of industry veterans from Supercell, Ubisoft, Sony, Electronic Arts (EA), King, Xsolla, and Oracle.

EARNINGS REPORTS