Play XD Ventures into Growth with NPIF II Investment
Deal News | Feb 12, 2025 | Business Cloud
Play XD, a gaming company based in Chorley, has secured a £100,000 investment from NPIF II, facilitated by River Capital and GC Business Finance Smaller Loans. This funding supports the development of their newest virtual reality game, Primal Rumble, set to launch on the Meta Quest platform in 2026. Beyond game development, the funds will help create nine new jobs, driving regional economic growth and positioning Play XD to enhance its gaming offerings with a global reach. This investment is part of the Northern Powerhouse Investment Fund II's larger initiative to inject financial resources into promising SMEs in Northern England, ensuring they scale effectively and remain competitive. Phil Goddard, founder and creative director of Play XD, highlighted the importance of this financial inflow, alongside Meta's backing, for the company's expansion and innovation strategy. Jonathan Nelson from River Capital emphasized the talent and opportunity represented by Play XD in the tech landscape of Northern England.
Sectors
- Gaming
- Investment Management
- Virtual Reality Technology
Geography
- United Kingdom – Play XD is based in Chorley, and NPIF II is supporting businesses in the North of England.
Industry
- Gaming – The industry produces and distributes electronic games; Play XD operates within this sector, developing virtual reality games.
- Investment Management – Focused on providing financial backing to businesses; NPIF II is involved in supporting Play XD's growth through investment.
- Virtual Reality Technology – Involves the development and application of immersive technology; Play XD is developing a virtual reality game for the Meta Quest platform.
Financials
- £100,000 – The investment amount provided to Play XD from NPIF II to aid in growth and game development.
- £660 million – Total fund size of NPIF II aimed at providing loans and equity investments to SMEs across Northern England.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Play XD | Target company | Company | A game development company based in Chorley, focusing on virtual reality games. |
| Meta | Partner | Company | A tech giant supporting Play XD in developing its new VR game for the Meta Quest platform. |
| NPIF II | Investor | Fund | The Northern Powerhouse Investment Fund II providing investment to support small and medium enterprises in Northern England. |
| River Capital | Investor/Fund Manager | Company | A fund manager involved in distributing the NPIF II investment to Play XD. |
| GC Business Finance Smaller Loans | Investor | Company | Participating in the investment by providing smaller loans as part of the NPIF II initiative. |
| Phil Goddard | Founder and Creative Director | Person | Founder and Creative Director at Play XD, responsible for the company's direction. |
| Jonathan Nelson | Investment Manager | Person | Investment manager at River Capital, focusing on funding innovative companies like Play XD. |