Leading US private equity firm Goldman Sachs has invested $200mn in French mobile gaming company Voodoo in the aim of bolstering its footprint within the fast-growing global video gaming market.
“We have been impressed by the vision, execution capabilities and innovation velocity of this management team,” said Alexandre Flavier, Investor at Goldman Sachs. “We are enthusiastic about partnering with Voodoo, under the leadership of Alexandre Yazdi, in this critical acceleration phase of a French tech champion.”
Voodoo develops and publishes mobile games across Apple Store and Google Play through its 400 global partnerships with gaming studios. Currently, the company has more than 150mn monthly active users, with the expectation that it will reach 1bn downloads this year, up from the 300mn recorded in 2017.
The funds raised will be used to double the company’s current staff to approximately 150 before the year’s end, with the aim of accelerating the firm’s growth, whilst also enhancing its development capabilities, such as the integration of new social and media applications.
“Goldman Sachs rapidly became the ideal partner for us,” said Alexandre Yazdi, Founder & President of Voodoo. “The alignment on our strategic objectives, the breadth of their international platform and their digital consumer expertise will enable us to realize our full potential.”