Funcom launches joint venture with Cabinet, funded by $10.3M from Swedbank Robur.
Funcom, an Oslo, Norway-headquartered gaming company, announced getting into a joint venture agreement with Cabinet Group LLC that will manage the interactive rights to rich worlds and characters.
The properties managed by the new venture, named Heroic Signatures, will be available for other developers to license, as part of Funcom’s increased focus on co-development and publishing partnerships.
Heroic Signatures will manage a portfolio of 29 different intellectual properties, including the ones from the writings of Robert E Howard and the Swedish original pen & paper and board games, Conan the Barbarian, Solomon Kane, and Mutant Chronicles, all of which have been made popular through motion pictures, comic books, novels, tabletop games, miniatures, and more. Other properties include Dark Agnes, Kult, Kull of Atlantis, Mutant: Year Zero, and El Borak.
Cabinet Group LLC controls the overall rights to all properties. Funcom and Cabinet Group LLC will each own 50% of Heroic Signatures, which will control and manage the interactive rights to each property, i.e. the right for video gaming on all platforms.
To fund publishing partnerships with third party developers, and secondarily to have more flexibility in investing in production of new games internally, Funcom has secured a $10.6M investment from SwedBank Robur Fonder AB.
Funcom, founded in 1993 and led by CEO Rui Cassais, is one of the leading European independent game developers and publishers. The company is listed on the Oslo Stock Exchange and has offices in Oslo, Norway and North Carolina, US.