Game developer Radical Forge has successfully secured a significant investment of £2.6 million (.4 million) from Mercia Ventures’ Northern Powerhouse Investment Fund II. This funding is poised to catalyze the creation of 15 new positions at the studio located in Middlesbrough, allowing for an expansion of their project portfolio and paving the way for the anticipated release of their own game, Southfield, scheduled for early 2025. This development comes on the heels of a few layoffs that occurred earlier in the year.
Strategic Partnership and Vision
Expressing his enthusiasm, Radical Forge CEO Bruce Slater remarked, “Well, we did it! We are beyond happy to say that we’ve secured funding to help us build Radical Forge into the company we want it to be and bring everyone along with us on the journey.” He emphasized the importance of the partnership with Mercia, stating, “In Mercia, we found a partner willing to understand not only the nuts and bolts of the company but the human heart that makes it tick. They share our ambitions to be a great development partner whilst creating original games in a culture that puts people first.”
Slater also extended his gratitude to their advisers at Cerelo, acknowledging that their guidance was instrumental in navigating the complexities of the financial landscape.
Opportunities in a Shifting Landscape
Chris McCourt from Mercia commented on the potential of Radical Forge, noting, “Radical Forge are a talented team with a vibrant culture that has helped them attract and retain skilled developers. We believe the current environment holds real opportunities for the business.” He pointed out that many larger companies in the industry are downsizing, which creates a unique opportunity for Radical Forge to attract top talent, broaden their skill set, and undertake larger, more complex projects.
With the backing of NPIF II funding, Radical Forge is well-positioned to pursue its expansion strategy, contributing to the burgeoning games industry in Middlesbrough.
