CvCapital Advises Skybound Entertainment on Its New Funding Round By Com2uS, C Ventures and Third Wave Digital
CVCapital is pleased to announce their role as the exclusive financial advisor to multiplatform content company Skybound Entertainment, home of franchises including The Walking Dead, Invincible, and Super Dinosaur, on its new funding round led by Com2uS, and first follow-on tranche by C Ventures and Third Wave Digital. Com2uS, a South Korean mobile and online game development and publishing company, became a minority investor in Skybound and will partner with the company for a future The Walking Dead mobile game. C Ventures and Third Wave Digital will support Skybound’s global expansion.
“Com2uS’ expertise in mobile free-to-play games make them an ideal production partner,” said Skybound Chairman Robert Kirkman, CEO David Alpert and Managing Partner Jon Goldman in a joint statement. “With tremendous support from C Ventures, Third Wave Digital, and Com2uS, we’re excited to work together to reach super fans in Asia and around the world with our existing and brand-new IPs.”
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Skybound’s strategic partnership with their new investors will strengthen the companies’ capabilities to expand and develop IP in new platforms and locations around the world, a venture Skybound will continue to pursue globally.
“This collaboration with Skybound will be a good opportunity for Com2uS to expand its influence in the global market and create synergy between the two companies,” said Com2uS CEO Byung Joon Song. “We will continue to work together to create a product that people around the world can enjoy.”
“C Ventures’ holistic ecosystem and global network will fuel Skybound’s continuous growth,” said Co-Founding Partners of C Ventures Adrian Cheng and Clive Ng in a joint statement. “Skybound’s most notable IP The Walking Dead has a large fanbase globally. We’re pleased to be supporting Skybound to move forward with more exciting creator-owned works and continuing our work and investment with the fast growing Skybound.”
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“The partners at Skybound understand how to leverage expertise, passion, and relationships to build stories that allure and engage their audience, which is why the company is of interest to Third Wave Digital,” said Third Wave Managing Director Allen DeBevoise. “We’re excited to see what is next from Skybound on the global scale.”
“CVCapital is excited to see the collaborations that come out of the pan-Pacific partnership between Skybound, Com2uS, C Ventures and Third Wave Digital. The funding round will further accelerate Skybound’s reach in bringing their stories and worlds to audiences globally,” said CVCapital Managing Director Jim Ying. “We’re glad we were able to play a role in bringing these leading companies together from the US and Asia.”
In 2017, Skybound and Com2uS announced a partnership to franchise Com2uS’ billion-dollar mobile RPG Summoners War, being led out of Skybound’s Vancouver-based sister company Skybound North and Wind Sun Sky. The companies are currently developing an animated television series based on the popular game, with Chris Wyatt and Kevin Burke (Super Dinosaur) attached to write and produce. In 2019 Summoners War: Friends & Rivals, a short film teasing the characters and animation style for the upcoming series, debuted on YouTube and has gained millions of views. Summoners War is in early development for additional projects across Skybound’s entertainment capabilities as well.
Accustomed to connecting creators and their content to new platforms and audiences, Skybound has seen success in franchising IP through the past ten years. Skybound is responsible for turning Robert Kirkman’s comic book series The Walking Dead into a multi-billion-dollar franchise through a television adaptation, two spinoff series on air with another premiering in 2020, numerous video games and merchandise, novels, and a movie currently in production. Kirkman’s comic book series Invincible is also in production for an animated television adaptation with Amazon and in development for a live-action film adaptation at Universal.
King & Spalding served as legal counsel to Skybound.