The Chernin Group Boosts Investment In Interactive Entertainment Company Scopely
Peter Chernin’s investment firm The Chernin Group has boosted its investment in interactive entertainment company Scopely, which announced that TPC and media giant Advance have just injected $200 million to help it grow its business.
Scopley said that brings its latest round of funding – Series D – to $400 million. “While under normal circumstances we would celebrate this milestone broadly, our thoughts are focused on the well being of our employees, their families, our players and all of our communities,” co-CEO’s Walter Driver and Javier Ferreira said in a blog post.
They said the investment will help them pursue “opportunities to expand our portfolio,” after acquiring the FoxNext Games team – and its MARVEL Strike Force game. “The acquisition further reinforced our commitment to M&A, and we decided to expand our Series D to include additional investors that share our vision for the future of interactive entertainment.”
TCG has invested in Scopely twice before (at its seed and Series A financing) and the latest outlay comes after it set up a $700 million fund dedicated to investing in and partnering with consumer brands and platforms.
Jesse Jacobs, co-founder and partner at TCG said Scopely’s team “has outperformed expectations consistently for the nine years we have been an investor. We are thrilled to deepen our relationship with Walter, Javier and the team as they execute on their mission of building one of the world’s leading interactive entertainment companies. As the traditional media industry continues to go through unprecedented change, we believe that Scopely has all the ingredients for tremendous success—exposure to games (the fastest-growing sector in media), a scalable and durable technology platform, a diversified set of well-known IP, an attractive economic profile, and a team hyper-focused on execution and long-term success.”
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