Starward Industries, a Krakow-based development studio currently working on the video game “The Invincible”, an adaptation of Stanislaw Lem's novel of the same, has successfully completed a private share subscription with a foreign institutional investor. The fund, managed by Acion Partners, subscribed to the entire new shares subscription worth 2.7 million PLN (around $730,000 USD). The parties have already signed a share subscription agreement and the payment has been credited to Starward Industries' account.
The new investor is the investment fund managed by Acion Partners Limited - a foreign investment institution backed by the global investment firm and private equity pioneer KKR.
"The additional shares subscription will provide the company with increased financial stability, which will enable further development of the studio. We are proud to have gained the trust of such a prestigious partner" - emphasises Kamil Klinowski - Chairman of the Supervisory Board of Starward Industries.
The studio’s board believes that a renowned international investment fund will have a positive impact on the the company recognition by current and future shareholders, further strengthening the current shareholder structure with an experienced institutional investor.
"After Acion Partners expressed interest in investing in our company, we decided that we wanted to establish a long-term business relationship and enable the fund to become a Starward Industries shareholder " - comments Dawid Sękowski - a member of the board of Starward Industries.
The emission price for 27 995 series I shares was set at 97 PLN. The offered shares have never been traded on the stock exchange before, and the Company, for the purposes of the current offer, will use the consent of the General Shareholders Assembly for the offering as part of its authorized capital.
"The Board is considering a wider range of uses for the funds raised. We are considering increasing the game's marketing budget, increasing the game's development budget, conducting conceptual work on the next game even before the release of The Invincible, and acquiring copyrights or licenses to new literary work adaptation. Final decisions remain ahead of us." - comments Marek Markuszewski, CEO of Starward Industries.
Starward Industries is a new Polish studio that’s made up of former AAA developers. It is now working on its first original title "The Invincible". In September 2020, the company announced its project, which received a positive reaction from both the media and the gaming community. The game’s reveal campaign was awarded Best New Business Campaign by the European Agency Awards 2020.