Investment specialist Oxford Capital has unveiled a $5 million injection of funds in Dundee-based free-to-play developer Outplay Entertainment.
Outplay, headed by Douglas and Richard Hare of Foundation 9 and Double Helix fame, is best known for its F2P releases on mobile, including Bubble Blaze and Monster Legacy. The investment, it's claimed, will be used to help the studio compete on a global scale.
“The global games market is at an exciting point for any new investor,” said Douglas Hare, Outplay CEO.
“Market growth is accelerating, consumers are proliferating, device capability exploding, and in-game monetisation opportunities are following in lock step.”
Oxford Capital has been eager to get involved in the F2P scene for some time, with figures suggesting that, as a whole, the global F2P market is currently worth $35 billion.
“We are truly excited to be increasing our exposure to this rapidly evolving market space,” said Oxford Capital’s Investment Director, Martyn Holman.
“We have for some time been seeking an appropriate opportunity to invest in the segment, but in a market with such a diversity of consumer choice it has taken a company of truly differentiated capability for us to commit.”
Outplay, then, is being pitched as Oxford Capital's point of entry into the crowded F2P marketplace, with its portfolio of titles and growth serving as major plus points.
“They have made significant breakthroughs in a crowded market space by building on each prior success. The company’s management team has an outstanding track record and we believe it has the vision and skill to become a significant player in the global games market,” said Holman.
Oxford Capital joins Pentech Ventures and the Scottish Investment Bank, both of which have backed Outplay since its founding back in 2011.
[source: Oxford Capital]