Videogame publishing start-up Brash Entertainment has announced that the company has received $400 million in funding from a group of equity investors.
Led by ABRY Partners, the group also includes New York Life Capital Partners, Northwestern Mutual Life Insurance and PPM America Private Equity Fund. The company initially reported it was close to finalizing a deal worth $150 million, although it later stated that the final amount would be "significantly larger."
Brash Entertainment was founded in March by 300 executive producer Thomas Tull, technology entrepreneur Bert Ellis, and Mitch Davis and Nicholas Longano, executives from in-game advertising company Massive Incorporated. The company plans to produce primarily videogames based on movies, television and music; it claims to have already secured the rights to over 40 licenses, with 12 titles currently in production, although the only license currently confirmed is Lionsgate horror franchise Saw.
The majority of Brash Entertainment title development will be done externally, overseen by the company's producers. "Brash is founded on the simple premise that top Hollywood creativity plus top game talent should equal great games," said Davis. "We are laser-focused on delivering high-quality games. The other aspects of our business are left to the experts - best-of-breed partners we've tapped for their specific expertise."