ALL THE LATEST NEWS ABOUT THE BUSINESS OF PC GAMES

News

Startup funding firm Republic snaps up crowdfunding platform Fig

Date Type Companies involved Size
April 20th, 2020 acquisition Fig Not disclosed
Startup funding firm Republic snaps up crowdfunding platform Fig

Games crowdfunding platform Fig has been bought by startup platform Republic.

In a blog post, Republic revealed it had acquired the video games firm for an undisclosed sum.

Fig was founded back in August 2015 by Justin Bailey (pictured), formerly the COO of Double Fine. Soon the crowdfunding company had attracted an advisory board that included industry vets from the likes of Obsidian, InXile and the Indie Fund. The platform allows projects to be backed by both crowdfunding from individuals, while investors can also put their money behind a game in return for a slice of future revenue.

Its new parent, Republic, is a similar investment platform but for startups rather than games. It launched in 2016 and to date has helped companies raise over $100m in funding.

"Joining Republic means more investors, more ambitious games, greater exposure, and the opportunity for higher returns," Bailey said.

"I’m ecstatic Republic contacted me and excited about how this acquisition will further aid us in our mission to empower independent developers"

Republic CEO Chuck Pettid added: "When I first talked to Justin I was blown away by his industry knowledge and connections to the best game developers in the world. It’s no wonder Fig has been so successful."


Editor - PC Games Insider

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he was hired to launch PCGamesInsider.biz for Steel Media before departing the firm in October 2019.

He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies