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Pathfinder: Kingmaker developer goes independent, raises $1M from GEM Capital in project financing
Moscow, December 04, 2019 - Owlcat Games and GEM Capital are happy to confirm that they have reached a deal to secure $1M funding for a new, undisclosed gaming project. MRGV, an investment arm of MY.GAMES, co-led the project financing. Owlcat Games announced its new status as an independent studio earlier this year (link).
Owlcat Games is a Moscow-based game studio that was founded by game industry veterans. Since its inception in 2016, Owlcat Games has built a strong reputation in the industry as a developer of role-playing games inspired by classic isometric RPGs. The studio’s first title, Pathfinder: Kingmaker, was released in September 2018. The game received positive reviews from players (90% is the latest review rating on Steam) and critics and has been chosen as Game of the Year by two of the most influential RPG communities – RPG Codex and RPGWatch.
GEM Capital was founded in 2016 as an international investment company with hundreds of millions USD under management. The company’s game development investment fund was established in 2019 with 20M USD allocation, and the venture capital firm has already invested in multiple studios.
“We believe in the huge potential of the Eastern European PC/console game development market, and we are proud to be working with Owlcat Games, backing the latest generation of up-and-coming gaming studios in the CIS,” said Roman Gurskiy, Head of Gaming Investments at GEM Capital.
"We have already moved to our new headquarters, where we are actively making ourselves a new home right now. There's a lot of work to be done but we're confident we can pull it off with support from MRGV and GEM Capital," said Oleg Shpilchevsky, Studio Head at Owlcat Games.