Singapore video game developer banks $150m in new funding

Virtuos, a game developer based in Singapore, announced that it has secured US$150 million from a fund under Baring Private Equity Asia (BPEA).

Photo credit: Virtuos

The startup will use the money to develop strategic partnerships and buy-and-build strategies in various regions through acquisitions.

With this investment, BPEA becomes the largest external shareholder of Virtuos, along with its earlier investor, 3D Capital Partners. BPEA managing director Janice Leow will join Virtuos’ board of directors as part of the transaction.

Gilles Langourieux, the company’s CEO, and other management teams will continue to hold more than 70% stake in Virtuos.

Founded in 2004, the company specializes in game development and 3D art production for gaming consoles and mobile titles. Virtuos has over 2,300 full-time employees and operates across 13 locations in Asia, North America, and Europe.

See also: A16z’s first Philippine bet is shaking up blockchain gaming

Apart from supplying content to over 1,300 projects to date, the startup has provided art services for Hollywood blockbusters such as Black Panther, Jurassic World, The Avengers, and Star Wars: The Force Awakens.

Prior to BPEA’s investment, Virtuos last received funding in 2018, raising US$15 million in a round led by 3D Capital Partners.

Correction (September 7, 2021 22:30 SGT): The article earlier incorrectly mentioned Virtuos CEO’s name and the year in which the company was founded.