Virtuos, a global network of development support studios in video games, recently secured 150 million USD in funding from Baring Private Equity Asia (BPEA).
According to Virtuos, the company will be using the 150 million to build strategic partnership, as well as strengthen their operations through acquisitions in various regions.
The report also clarifies that through this, BPEA will own a 30% stake in the company, becoming the largest external shareholder for the studio. Janice Leow, BPEA Managing Director, will also be joining Virtuos’ board of directors.
“Virtuos has achieved a number of great milestones in a short space of time and we are delighted to support the business at such an exciting stage in its growth journey,” said Leow. “The gaming industry has tremendous potential for growth, and we believe that Virtuos is very well-positioned given its diverse and loyal client base, its deep global talent pool, an inclusive culture that empowers employees to perform at their best, and the Company’s long track record of partnering with clients to develop some of the world’s most popular games. We are confident that collectively, Virtuos and BPEA will drive greater value for customers, partners, and gamers globally.”
“The gaming industry and demand for its content continue to grow rapidly, and so will Virtuos as one of the largest entertainment content creators worldwide with over 2,300 employees spread across three continents,” said Gilles Langourieux, CEO of Virtuos. “This investment from BPEA, which has a long history of supporting and growing Asian-based companies, will ensure that we stay at the forefront of AAA content development and deliver high value-added services in full game co-development and end-to-end art production, and continue to be the trusted partner for publishers and developers in developing blockbuster games”.
Virtuos is a big name in the game development industry, having studios all around the world and providing co-development services for publishers like EA and 2K, even appearing in the credits for titles like Devil May Cry V.