Represented inXile Entertainment, Inc. in connection with the initial closing of its Series A Preferred Stock financing, which included a $2 million equity investment and advancement of $2.5 million in development costs by gumi VR, Inc. As part of the transaction, gumi VR will have exclusive worldwide publishing rights to certain VR titles developed by inXile.
Founded by Brian Fargo in 2002, inXile Entertainment is an Orange County video game developer focused on crowdfunded titles, foregoing the traditional publishing route to control the creation process, so this transaction was a departure for them. Before inXile, Mr. Fargo was the founder of Interplay, a historically important developer and publisher, which launched many of the most critically lauded and popular video game franchises of all-time, including Fallout, Wasteland, The Bard’s Tale, Baldur’s Gate, and Planescape: Torment, and fostered amazing talent that led to such companies as Blizzard Entertainment, Obsidian, and BioWare. gumi VR is a Japanese company that has worked on a number of mobile games including Final Fantasy Brave Exvius, Brave Frontier, and Phantom of the Kill. gumi’s VR division has primarily been investing in other VR projects including inXile’s unnamed project and Playsnack.
The Newport Beach-based team representing inXile included Chris Ivey, Jeff Estes and Matthew Brodsky.