At work on the action-RPG Banishers: Ghosts of New Eden with Focus Entertainment and on the narrative adventure game Harmony: The Fall of Reverie as well as four other unannounced but all self-published projects, Don’t Nod is currently living the eventful in its history, especially since we do not count the two external co-productions of partner studios (Studio Tolima and Tiny Bull Studios) for which it will be in charge of publishing (such as Gerda: A Flame in Winter, recently). This Friday, Oskar Guilbert’s studio confirms that it has finalized a new fundraising of 46 million euros, of which 98.5% by institutional investors and 1.5% by individuals via the PrimaryBid platform. This is the second significant capital increase for the company in the space of two years and Tencent is once again a major player in the operation.
The action-RPG as the next lever for growth
“It is reminded that prior to the launch of the Fundraising, Tencent undertook to subscribe a minimum amount of €35 million through its subsidiary Proxima Beta Europe BV. Tencent, was granted 3,600,000 new shares under the Reserved Offering“, can we read in the press release. As a direct consequence, Tencent goes ahead of the Bulgarian administrator Kostadin Yanev and becomes the largest shareholder of the studio, of which he now holds 42% of the capital and 34% of the voting rights (against 22% and 16% previously).
“I am very pleased with the continued support of our existing shareholders, and I would like to extend my thanks to institutional and individual investors for their confidence in our development. With the releases in 2023 of 2 new games and the development of 4 additional original creations and 2 external co-productions, Don’t Nod benefits from the largest game pipeline in its history. The funds raised will allow us to accelerate our next growth cycle beyond 2025, in the segment with strong and proven commercial potential of action-RPG“, commented CEO Oskar Guilbert. Among the unannounced games of Don’t Nod is already a new original action-RPG (Project 12) which will represent a new move upmarket for the studio, we are told.
- Also Read | Banishers: Ghosts of New Eden is the new co-production of Focus and Don’t Nod
- Also Read | Don’t Nod returns in June 2023 with Harmony: The Fall of Reverie