Wersja polska
Our law firm advised Something Random an independent video game development studio from Łódź in obtaining millions of USD in seed financing round from NetEase – a Chinese game industry titan. NetEase will take share in the company’s equity, making this a significant round of the seed-stage financing in the Polish video game industry.
This is a watershed moment for the Polish gaming industry, a Silicon Valley style seed round. Our team advised in many VC rounds for Polish video game developers, but only this year we see a dramatic shift. The financing is increasing exponentially, and investors offer less restrictive covenants to the founders. This is largely a result of attention and investment from international VC community.
Lawyers from our firm advised in every stage of the transaction: establishing and registering the company, concluding contracts with new hires and negotiating the investment agreement. Maruta Wachta advised also with regards structure, transfers and due diligence of intellectual property rights (including relevant transfer clauses in agreements with developers).
Something Random is a very innovative structure. The Company has an employee stock options plan (ESOP) from the start and will offer stock options to contractors, this is unusual for a Polish start-up.
Something Random employs a very modern and innovative corporate structure. Balancing the interests of the founders, investors and employees (to be shareholders under the ESOP) maybe challenging and Polish corporate law does not always adapt to accommodate standard of VC institutions.
London and Warsaw offices of Cameron McKenna Nabarro Olswang advised NetEase.
Team of lawyers from Maruta Wachta was led by Michał Pękała, Partner, Head of Video Games & Entertainment Practice and included Jakub Kowal (Senior Associate), Anna Piechota (Associate) and Mateusz Kłudczyński (Junior Associate). Senior Associate Hubert Bińkiewicz advised on corporate matters.
This is yet another innovative and substantial transaction in the Polish video games sector concluded with the help of Maruta Wachta’s Video Games & Entertainment Practice. Last year the firm advised IndieBI in corporate set-up and obtaining financing with an in innovative, convertible loan structure. “We see a pattern in those transactions. They include ESOP’s and orderly transfers and due diligence of intellectual property. The company is set-up by founders with proven experience in the industry. We see value in our work, transactions like investment in Something Random help to change expectations of founders and investors in the general Polish game development industry.