Cloud Imperium raises $46M from private investment
Cloud Imperium UK Ltd and Cloud Imperium US LLC, the studios behind Star Citizen and Squadron 42, have raised $46 million in funds from a private investment in the Cloud Imperium Group.
The funds will primarily be put towards the development and marketing for Squadron 42, but will also be funneled into Star Citizen and various business development initiatives.
The investment was led by the father-and-son duo of Clive and Keith Calder, specifically by Clive Calder’s family office and Keith Calder’s Snoot Entertainment.
Clive Calder is best known for founding the independent music company Zomba, while Keith Calder is a film producer whose company has powered films like Blindspotting and Anomalisa. While the pair notably made a name for themselves in entertainment outside of video game development, Cloud Imperium co-founder Chris Roberts notes in a press release that both Clive and Keith Calder are “like-minded partners” that he says will help fund the marketing and release of Squadron 42 staying “attuned to what makes us special.”
The $46 million investment sees the sale of roughly 10 percent of the company and was made equally into each side of the Cloud Imperium Group (including both US and UK) at a combined post-money valuation of $496 million.
Two new board members have joined the boards of Cloud Imperium UK Ltd and Cloud Imperium US LLC as well, with Dan Offner on behalf of the investors and Eli Klein as an advisor to the company. Chairman and CEO of Cloud Imperium Games Chris Roberts retains full control of the Board and Group.
"This investment helps secure our independence. We may not have the resources that an Activision or EA have to launch one of their tentpole games, but we now control our own destiny in marketing Squadron 42," said Roberts in a press release.
"Beyond this, this investment gives Cloud Imperium the ability to take the long view when needed or
pursue a business opportunity that we normally could not have. It allows us to grow as a company."