PI Global Investments
Private Equity

Former UTA agent Ophir Lupu joins private equity firm Haveli

Video game industry super-agent Ophir Lupu has joined Haveli Investments, one of the largest private equity funds focused on gaming.

Why it matters: One of the best-connected people in the business now has the funds to help shape the direction of myriad game companies.

  • Lupu has rarely been a bold-faced name in games coverage, instead operating effectively in the background as an agent during a decade-long run at United Talent Agency. His clients have included Bioshock’s Ken Levine and Mortal Kombat chief creator Ed Boon.
  • He’ll be an operating partner at Haveli.

Details: Haveli is trying to build a $750 million fund, according to a source familiar with the matter, more than the $500 million initially reported in February based on SEC filings.

  • The Haveli fund was created by Brian Sheth, the gaming-savvy co-founder of Austin-based Vista Equity Partners, who is now focused on building a large video game fund.
  • Haveli’s pitch will be oriented toward providing capital to a dozen or so largely established studios, to help them retain talent and take creative risks, a source familiar with their plans said.
  • The fund’s first two disclosed deals: leading a $20 million investment in start-up Omeda Studios and an infusion into decades-old Montreal-based studio Behaviour Interactive.
  • A rep for Haveli declined to comment.

The big picture: Money continues to pour into the game industry as companies merge and investors place bets on the next big thing.

  • The industry saw more than $100 billion in deals in the first half of 2022, including $3.6 in disclosed private placements, according to Drake Star partners. Much of that is venture capital going into companies on the early end of things, but not all.
  • “Private Equity firms have been increasingly more interested in the gaming space and many are eager to do deals,” Drake Star’s Michael Metzger tells Axios.
  • He noted Carlyle’s acquisition of Jagex, General Atlantic’s investment in Tilting Point and Joffre Capital’s bid for Playtika.

Sign up for the Axios Gaming newsletter here.

Source link

Related posts

July 18, 2022: Falfurrias Invests in Cybersecurity for PE Firms, PortCos

Miles

US private equity giant Thoma Bravo to opens new London office

Miles

Sidley Austin Adds Private Equity, M&A Partner to NY Office

Miles

Leave a Comment

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.

    100% secure your website.