Video Game Studio Don't Nod Raises €46M
Partner Stuart Smith comments on French game developer Don't Nod raising €45.9 million with newly issued shares, in Law360
"The rapid success of Don’t Nod’s latest fundraising shows that the indie’s strategy of focusing on powerful narratives in gaming is paying off.
Around 80% of the new institutional investment has been provided by existing shareholder, Chinese entertainment conglomerate Tencent, suggesting they are pleased with how their original investment has performed, while €0.7m of the investment came from individual investors via PrimaryBid, some of whom may well be fans of Don’t Nod’s games, looking to be more directly involved with the business."
Stuart's comments were published in Law360, 17 February 2023, and can be found here.