Business Wire

Hiro Capital Leads $15 Million of Games VC Investment Into Snowprint Studios, Double Loop Games and Happy Volcano Games

Share

Three international video game studios are the latest investments for Hiro Capital, the entrepreneur-led Venture Capital fund focused on backing innovators in Video Games, the Metaverse, Esports and Digital Fitness.

The three mobile and cross-platform studios – Snowprint in Stockholm/Berlin, Double Loop Games in San Francisco and Happy Volcano in Belgium – will use Hiro’s investment to expand their development pipelines and accelerate global growth. They join UK and US Games studios Flavourworks, Polyarc and Lightfox in the Hiro Capital portfolio, alongside pioneers in the gamification of Games Streaming and Digital Fitness LIV.tv, Edgegap,FitXR and Nurvv.

Ian Livingstone, co-founding partner at Hiro Capital, said, "We are excited to begin 2021 by announcing Hiro's investment in three amazing games studios, Snowprint, Double Loop and Happy Volcano. Each studio has demonstrated innovation and expertise in developing fun to play games which resonate with today’s audiences. I’m especially pleased that one of the studios came through our first Dark Star™ event for emerging indies looking to scale their businesses. If only venture capital had been interested in the games sector back in the 1970s, I might not have had to sleep in a van during the early days of Games Workshop!"

Snowprint Studios was founded in 2015 in Stockholm, Sweden and has since grown with a second studio in Berlin. The team is led by industry veterans Alexander Ekvall and Patrik Lindegren, each formerly of King, John Hargelid, formerly of Paradox Interactive, and Wilhelm Osterberg, formerly of Wooga. Snowprint Studios operates their debut mobile title Legend ofSolgard and is now also working on three new mobile projects, including Rivengard, a turn-based tactics game that launched globally on 21st January 2021, as well as an undisclosed AAA mobile IP coming soon out of its Berlin studio.

“We had heard great things about Hiro and have been impressed by the entire team from our very first interactions,” said Alexander Ekvall. “The team has a deep understanding of building successful games companies and this is reflected in the support they provide. The backing from Hiro means we are better equipped than ever to execute on our mission to deliver genre-defining experiences.”

Double Loop Games is a San Francisco-based social mobile game studio working on its debut title. The team is led by industry veterans Emily Greer, co-founder of Kongregate and Shelby Moledina, formerly of Warner Bros, Games and DeNA. Double Loop Games is now preparing to launch its exciting social mobile title, made for players who don't think of themselves as gamers.

"We've been thrilled with the level of insight the Hiro team brings to games and the games industry," said Emily Greer. "They immediately understood both the upside and the potential challenges around our more innovative mechanics. We look forward to a long and productive partnership with people that we know really get it."

The third investment is Happy Volcano, a new studio from Belgium that secured funding after attending Hiro Capital’s Dark Star™ VC investment summit for early stage Games studios. Last year, Happy Volcano released the critically acclaimed narrative exploration game The Almost Gone and are currently working on a new soon-to-launch cross-platform game You Suck at Parking.

“Teaming up with Hiro Capital means we can take the next step on our journey to become a leading creative game studio,” commented Jeroen Janssen, Founder and CEO at Happy Volcano. “Attending the Dark Star event in 2020 made it clear to us that Hiro brings a lot of value besides just funding. Knowing that an industry legend like Ian Livingstone is backing your vision gives the entire team confidence that we are on the right path.”

“The addition of these three exciting Games studios brings our total investments to 11, with more deals to be announced soon,” said Cherry Freeman, co-founding Partner at Hiro Capital. “At Hiro, our mission is to find talented, ambitious teams and help them grow by bringing expertise and capital. We invest in the innovators of the future, and I couldn’t think of a better start to 2021 than these three great studios.”

Luke Alvarez, Founding Partner of Hiro said: “Hiro was founded to invest in the super-sector of Games, Sports and Metaverse technologies. On every dimension, in every market, 2020/21 has been a story of strong growth - in users, sales, devices, stream views, and innovations. People fell in love, got married and graduated in games and are coming out of lockdown stronger thanks to gamified wearables and VR fitness tech. As a VC, it is exciting to see our sector focus so emphatically confirmed. Finally, Hiro is a diverse team and so are these new studios, including our first female Games founders, Emily and Shelby.”

Hiro Capital is looking for more ambitious Games entrepreneurs and will be launching the next Dark Star™ event for Games Studios in March 2021. Dark Star 2.0 will give Game studios looking for investment the chance to hear from Hiro Capital’s partners and portfolio entrepreneurs about how and why to position themselves for venture funding.

Hiro Capital: Investors in the Future

Hiro Capital is a London / Luxembourg technology Venture Capital fund which invests in UK, US and European innovators in Games, Metaverse Technology, Esports and Digital Fitness. Hiro Capital generally invests at the post-seed Series A and B stages. We invest both in front-end Content creators in Games, Esports and Digital Sports and in deep tech Metaverse applications of Cloud, Mobile, Streaming, Big Data, AI, Wearables, AR and VR technologies.

We back experienced entrepreneurial teams, building innovative technologies and content with a strongly differentiated proposition and with the scaling opportunity to become very large.

We are Games, Esports and Sports investors who are also Games, Esports and Sports entrepreneurs. We are entrepreneurs who back entrepreneurs. Our core belief is that Games, Esports and Digital Sports will be a central pillar of Entertainment, Economic and Social Life in the mid 21st century. We invest in the innovators who are building that future. https://hiro.capital/

- Ends -

Contact information

Dean Barrett
dean@bastion.co.uk
+44 7802 898110

Antonella Scimemi
antonella@burlington.cc
+44 7530 815 018

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

CGTN: A City on the Rebound: How Hong Kong Can Move Forward13.4.2021 19:57:00 CEST | Press release

The past two years have been tough on the world, not just due to the pandemic but also the geopolitical volatility that has roiled many countries and regions. In East Asia, the financial hub of Hong Kong has experienced its fair share of difficulties, but as life slowly returns to normal, problems that have plagued the city for decades remain. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210413006039/en/ (Photo: Business Wire) The city's brief history is well-documented – its humble industrialization in the 1970s coupled with the entrepreneurial spirit of its residents saw it become a bastion of wealth at a time when that part of the world was still economically stagnant. Coupled with a liberalized financial system and generous policies, the city catapulted itself toward the top, competing with mega-cities such as London and New York City. For all its glitz and glamour, Hong Kong contained contradictions that boiled over i

Tigo Intellectual Property Infringement Lawsuit against APS Continues to Grow13.4.2021 19:53:00 CEST | Press release

Tigo Energy, Inc., the solar industry worldwide leader in Flex-MLPE (Module Level Power Electronics), has filed a new lawsuit against Altenergy Power Systems (“APsystems”), in addition to its current ongoing case. The complaint includes four new patent infringement claims, as well as an additional claim from a patent asserted in the previously-filed lawsuit. The complaint was filed in the United States District Court for the Northern District of California. The total number of Patents-in-Suit in both cases now stands at six. The complaint includes all APsystems legal entities in the US as well as in China. The new complaint alleges that APsystems’ Sunspec-compliant products infringe the following U.S. patents: 8,653,689, 9,584,021, 9,966,848, 10,333,405, and 8,933,321. The complaint centers around various systems and methods used in the PV module rapid shutdown unit. Tigo’s industry leading solar equipment provides optimized, monitored and safe solar to protect this critical infrastruc

Maxon Announces Cinema 4D S2413.4.2021 18:05:00 CEST | Press release

Maxon, the developers of professional software solutions for motion designers and visual effects artists, today announced Cinema 4D Subscription Release 24 (S24). The latest subscription-only release of Maxon’s 3D application allows users to easily browse and obtain models, materials and other assets, and to intuitively place them within the scene. The release also includes key workflow enhancements and a sneak peek at continued progress on the Scene Nodes and Scene Manager interfaces to the new core. Cinema 4D S24 is immediately available for subscription customers. For perpetual license holders of Cinema 4D a release is scheduled later this year that will incorporate the features of S24, as well as future enhancements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210413005918/en/ Maxon Cinema 4D S24 features placement tools, a new asset browser, animation workflow enhancements, and continued development on powerful nodes

Maxon Announces Redshift for macOS Including Native Support for M1-Powered Macs13.4.2021 18:05:00 CEST | Press release

Today, Maxon announced the immediate availability of Redshift for macOS including support for M1-powered Macs as well as Apple’s Metal Graphics API. Redshift, the award-winning, production-ready renderer, offers a rich feature set including ray switches, flexible shading networks, motion blur, AOVs, deep output, layered EXR and much more. Unlike other GPU renderers, Redshift is a biased renderer that enables artists to adjust the quality of individual techniques in order to get the best performance/quality balance for production. As a Universal solution, Redshift is optimized for high-end performance across both M1- and Intel-powered Macs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210413005903/en/ Redshift for macOS signifies a milestone, bringing cutting-edge cinematic rendering to Mac artists. (Graphic: Business Wire) Redshift for macOS signifies a milestone, bringing cutting-edge cinematic rendering to Mac artists. A

Golden Euro-spiller tok rekordgevinst på € 3 millioner13.4.2021 17:29:00 CEST | Pressemelding

Champagnen flyter og feiringen er godt i gang hos Golden Euro Casino, etter at en heldig spiller tok jackpoten og vant en monstergevinst på € 3 746 291. Spillerens gevinst kom på Realtime Gamings enormt populære automat Aztec Millions. Det er den største gevinsten gjennom tidene på det progressive jackpotspillet, og hos Golden Euro. For å starte økten gjorde den 49 år gamle spilleren et kredittkortinnskudd på € 27, og hentet Golden Euros ettertraktede innskuddsbonus på 50 %. Dermed hadde hun € 54 til å spille med. Gevinsten kom fra en liten enkeltinnsats på € 5 plassert fra smarttelefonen hennes. Da hjulene stoppet opp og jackpoten ble utløst, ble spilleren umiddelbart mangemillionær. Adrian Berger hos Golden Euro Casino uttaler: “Vi er så glade for at en av spillerne våre har landet den største jackpotgevinsten noensinne på Realtime Gamings Aztec Millions. “Jeg snakket med spilleren kort tid etter at hun bekreftet gevinsten sin og hun var utrolig opprømt, selv om det at hun nå er en m

Agthia Embarks on Transformational Journey with its Strategy to Become an F&B Leader by 202513.4.2021 17:06:00 CEST | Press release

Agthia Group PJSC revealed its long-term strategy to become an F&B leader in the Middle East, North Africa and Pakistan (MENAP) region and beyond by 2025. The strategy is built on three strategic pillars (growth, efficiency and capability) and is designed to extend the Group’s market leadership, provide significant value for all stakeholders and continue to drive profitability growth with a consumer-centric approach. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210413005841/en/ Khalifa Sultan Al Suwaidi - Chairman - Agthia Group (Photo: AETOSWire) The Abu Dhabi-based organisation is engaged in manufacturing, distribution and marketing of a wide range of F&B products, including popular regional brands such as Al Ain (water), Al Foah (dates), Al Faysal Bakery & Sweets (bakery) and Grand Mills (flour and bakery) among others. Khalifa Sultan Al Suwaidi, Chairman, Agthia Group, said: “The strategy will unleash the full potentia

FRISS Acquires Terrene Labs to Expand Underwriting Efficiency13.4.2021 17:03:00 CEST | Press release

FRISS, the market leader in AI-powered fraud, risk and compliance solutions for P&C insurance carriers, today announced the acquisition of Terrene Labs. Industry leaders in providing Commercial Insurance providers with comprehensive Risk Insights, Terrene will be a fundamental addition to the FRISS product family. Commercial lines underwriters now have access to thousands of actionable insights within just 5 seconds, replacing a disjointed manual and limited enrichment process that previously took up to a week and delayed policies for quality customers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210413005837/en/ FRISS acquires Terrene Labs and welcomes them to their family. (Graphic: Business Wire) “We’re bringing commercial lines to the digital age together,” remarked FRISS CEO and Co-founder Jeroen Morrenhof. “True risk insights were always hard to access and we’re changing that. Combined with the analytics capabilitie