Big Viking Games raises $21.75 million so far in 2016

As one of Canada’s largest independent mobile and social game studios, Big Viking Games (BVG) has focused on using technology, specifically HTML5, as a way to propel the company forward.

The London, ON-based company has grown over organically over the last five years, without venture capital or outside equity investment, a statement said.

“We wanted to operate without the pressure of a VC investment until we were ready,” said co-founder and CEO Albert Lai. “While our focus on HTML5 has paid off with our Triple-A instant games that can be distributed on many powerful mobile platforms, such as messenger applications, we weren’t sure we could find the right investors that understood our vision in the early days. Now that we have multiple million dollar budget titles in the works to distribute on new and upcoming platforms, investors can see how our business strategy is on track to change the future.”

But today, BVG announced that it has raised a total of $21.75 million from three Canadian institutions in 2016 and plans to raise at least another $60 million. RBC has provided $18 million in financing in 2016, in partnership with Export Development Canada. BDC Capital, Growth and Transition division also contributed $3.75 million in an earlier round. This contribution was repaid with BVG profits.

LaBarge Weinstein LLP acted as counsel to Big Viking Games with a team that included James Smith and Emma Mohns.

Read more from BVG here.