Foresight invests £5M into Manchester based games developer Steamforged
Steamforged was founded in 2014 by Rich Loxam and Mat Hart, both games enthusiasts who dedicated their free time to create ‘Guild Ball’, a sports-based miniature game which went on to achieve critical acclaim. Since then, the team has developed a portfolio of games based on both original and licensed IP.
Their early success led to winning licences to develop games for several renowned video games titles and in doing so, the Company has succeeded in carving out a distinct niche in a market estimated to be worth c. £2.3 billion. Their first licensed game based on the hit video game Dark Souls™ sold more than 100,000 units globally and more recently the team has developed and released a tabletop game based on world-wide sensation Resident Evil™ 2. Steamforged has become firmly established as the preferred tabletop games partner for the likes of Bandai Namco, Capcom and Sony.
The investment from Foresight will support new product development, which is the Company’s principal growth driver and a key strength. In the pipeline for the next 24 months are eight additional games that are currently in production or development. The investment will also support the development of the Company’s retail channels and help accelerate international growth.
In addition to the funds, Foresight has facilitated the appointment of Ian Livingstone CBE, one of the founding fathers of the UK games industry and Co-founder of Games Workshop, as a Non-executive Director. Ian will use his extensive industry experience to support the Company’s growth strategy over the coming years.