Virtuos recently raised $150 million from private equity firm Baring Private Equity Asia, a new kind of investor coming into the growing game industry.
Such investors haven’t put a lot of money into games in the past, but the pandemic highlighted the opportunity as games grew 23% in revenues in 2020 while many other industries shrank. Virtuos is taking advantage of that growth to level up its business, which focuses on external development of core game assets for triple-A games for consoles and PCs. While it started providing art, now it has a deeper role in game development, providing assets inside a game engine that are more easily integrated in a game.
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