The gaming studio announced a seed round raise of $5.5 million
LOS ANGELES, July 25, 2023 /PRNewswire/ — Shima Capital today announces its investment in Pixion Games, an innovative gaming studio. Shima Capital and founder Yida Gao were joined in the round by Avalanche Foundation’s Blizzard Fund, Eldridge, Merit Circle, ReadyPlayerDAO, VGC, Zee Prime, Mechanism Capital, GSR, Misfits Gaming, and others. The funds will go towards scaling the development of Pixion Games’ flagship game, Fableborne.
Fableborne is a mobile, action role-playing game that combines strategic base building with allowing players to gather blockchain-based in-game assets. Players of the game can also compete in Pixion League, the studio’s in-app tournament system. With the founders hailing from such companies as Konami, Gala Games, Ubisoft, and Sony, the project is set up for long term success.
“We love investing in a strong founding team, and the Pixion team already has a track record of more than half a decade of working well together,” said Yida Gao, Shima Capital’s Founder and Managing General Partner. “Once you add in their extensive experience developing and building multiplayer games that have been played by millions of users, this investment made a lot of sense for Shima Capital. We’re excited for Fableborne to be played by the masses.”
With the investment, Yida Gao continues his commitment to web3 gaming and the many opportunities it presents. To date, Shima Capital’s investment portfolio is made up of a large portion of gaming projects and remains an area of growth for the venture capital firm.
About Shima Capital
Shima Capital is a leading early stage VC firm, founded by Yida Gao in 2021, investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. For more information visit https://shima.capital/.
About Pixion Games
Founded in 2017, Pixion Games creates exciting multiplayer games that are easy to understand, hard to master, but ultimately fun to play in short sessions. Pixion Games was formed by veterans from Konami, Garena, Gala Games, Square Enix, Sony, Wargaming, Pixonic, Ubisoft, NCSOFT and many of the world’s most formidable game studios, with a proven track record in developing multiplayer experiences for millions of players. For more information visit https://pixiongames.com/.
Press release distributed by PRLog
SOURCE Shima Capital