Alantra advises Cathay Capital on investment in Shiro Games



Oct 2022
Buy-side advisory

Paris – Alantra, the global investment banking and asset management specialist, has acted as exclusive advisor to Cathay Capital on its significant minority investment in French video game company Shiro Games (“The Company”). 

Founded in 2007, Cathay Capital is a global investment firm that supports companies at all stages of their development in Europe, Asia, North America, and Africa. Its global platform connects investors, entrepreneurs, executive teams, and leading companies across all continents to share the knowledge and tools to scale and reach new heights. 

This investment will be directed towards the development of Shiro’s two new unannounced games, further powering the company’s catalogue and growth in the coming years. Following the transaction, the management of Shiro Games will remain invested in the company. 

Shiro Games is a leading French developer and publisher of mainly PC and Consoles games founded in 2012. The company has launched many successful and highly regarded games, essentially in the RPG, strategy, and action genres, with the objective of offering rich and innovative game experiences.  

Edouard Moinet, Co-Founder and Managing Partner of Cathay Capital, said: “With this momentum and the excellent fundamentals of the indie game market, Shiro has the potential to become a leading platform in Europe. We look forward to helping Nicolas, Sébastien and the entire Shiro team to go even further, thanks in particular to our experience in accompanying them through the acceleration phases and our international network.” 

Nicolas Cannasse, CEO of Shiro Games, added: “We are delighted to welcome the Cathay team to our capital. Their long-standing expertise in supporting and structuring fast growing companies will allow us to begin a new page in the history of Shiro Games while maintaining our identity and values and furthering our international expansion. Together, we will continue our adventure to become a leading developer and publisher in Europe.” 

Nicolas Vienot, Managing Director of Alantra, added: “We are extremely happy to have assisted Cathay in this transaction. Shiro Games is one of the most promising studios in Europe and Cathay’s investment will certainly fuel further its already impressive growth.”

This is the ninth transaction completed by Alantra in the Gaming sector over the last two years and speaks to Alantra’s strong momentum in the sector.

The Alantra team included Nicolas Vienot, Olivier Guignon, Alexandre Maroufi, Chloé Louis, and Cedric Lagarrigue, former founder and CEO of Focus Entertainment and senior advisor to Alantra in the Gaming sector.

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