Sagard NewGen, a new fund dedicated to healthcare and technology players, has just acquired a minority stake in Asobo Studio from its 12 founders
Founded in 2002 by twelve former employees of Kalisto, a video game company headed by Nicolas Gaume which had up to 300 employees in the 90s in Bordeaux, Asobo Studio has achieved the feat of becoming the leading independent French developer of video games on console and PC.
His fame today is international. Asobo Studio has collaborated with the biggest names in the industry (Microsoft, Disney / Pixar, Ubisoft, Focus Home Interactive) and developed or co-developed 24 titles. Including a number of legendary games: Microsoft Flight Simulator 2020, the open-world car racing game Fuel or its latest in-house creation, “A Plague Tale: Innocence, which has sold over a million copies.
A success story, which currently generates 220 developer jobs.
Openness to capital, but a minority
But, today in a very capital intensive sector, Asobo Studio needs funds to serve its ambitions. Its 12 founders have therefore just granted a minority stake in the Sagard NewGen fund. It is also an opportunity to involve a larger part of the employees in the capital. This is not, however, a fundraising.
“The arrival of Sagard NewGen will support Asobo Studio’s growth ambitions while preserving its autonomy in its editorial and strategic choices,” reassures the company in a press release. In particular to finance the Live Flight Simulator or the development of an adventure game with Focus. “We were won over by the enthusiasm, pragmatism and flexibility of the Sagard NewGen team. Their ability to grasp the issues specific to our industry and to understand the DNA of Asobo Studio have definitely convinced us to support the development of Asobo Studio in the years to come “, justify Sebastian Wloch, chief executive officer of Asobo, David Dedeine, chief creative officer, and Grégory Carreau, chief operating officer.
For their part, Bérangère Barbe, Agnès Huyghues Despointes and Guillaume Lefebvre of Sagard NewGen stress that they were: “won over by what the teams of Asobo Studio have been creating for nearly 20 years. The studio is at the cutting edge of technology and innovation and we are impressed by all of its know-how, both technically, artistically and creatively. We fully adhere to the business model of Asobo Studio, the right balance between game development on behalf of ‘leading editors and in-house creations “.