Cathay Capital Invests €50 Million in Shiro Games

Shiro Games, the developer behind Dune: Spice Wars, has secured a significant investment from Cathay Capital, marking the latter's first foray into the gaming industry. Although the exact figures were not disclosed by the studio, a report by French newspaper Les Echos suggests the investment amounts to nearly €50 million. This substantial investment brings Shiro Games' valuation to €150 million. The funds will be utilized to expand the studio's workforce, which currently stands at over 60 employees, and to support the development of two new, as-yet-unannounced projects. In an official statement, the company reassured that it will maintain its independence under the leadership of co-founders Nicolas Cannasse and Sebastien Vidal. Moreover, Shiro Games will continue its publishing endeavors through Shiro Unlimited, a label launched the previous year. According to Nicolas Cannasse, the company's CEO, the studio's title Northgard has now surpassed 3 million units sold.