CPE News (6/16/2020) – iLLOGIKA Studios Inc., a video game developer and immersive experiences designer, has received non-dilutive financing of $1.5 million from BDC Capital’s Growth & Transition Capital division before the onset of the COVID-19 crisis.
Founded by David Fugère-Lamarre, Olivier Martin and Loïc Cayuela in 2009, iLLOGIKA Studios offers a perfect blend of creativity and technological expertise. With a team of 60 people in Montreal, iLLOGIKA Studios has participated in the development of some thirty games and created immersive experiences for Moment Factory, Cirque du Soleil and Disney, among others.
BDC Capital’s financing is in the form of a patient cash flow loan with flexible terms to enable iLLOGIKA to preserve more of its working capital in the event that the company wishes to draw on it during game production.
Bernard Melameth, Director of Growth & Transition Capital in Montreal, led the transaction.
photo credit: iLLOGIKA Studios
News Release
iLLOGIKA receives $1.5 million support from BDC Capital to produce two video games
MONTREAL, June 16, 2020—Montreal-based studio iLLOGIKA, a video game developer and immersive experiences designer, obtained non-dilutive financing of $1.5 million from BDC Capital’s Growth & Transition Capital division before the onset of the COVID-19 crisis. Founded in 2009, iLLOGIKA has participated in the development of some thirty games and created immersive experiences for Moment Factory, Cirque du Soleil and Disney, among others.
iLLOGIKA will use these funds to develop two new games. One of these games is Rogue Racers, a mobile racing game of its own making that is in the final stages of development, and the other is a licensed game that is yet to be announced, based on a blockbuster movie series that combines horror and science fiction. These plans are unaltered by the crisis. BDC Capital’s financing is in the form of a patient cash flow loan with flexible terms to enable iLLOGIKA to preserve more of its working capital in the event that the company wishes to draw on it during game production.
“Over the past 11 years, we have built the studio’s expertise and reputation by progressing in the scale of responsibilities and the size of the projects we develop,” explains David Fugère-Lamarre, co-founder and CEO of iLLOGIKA. “Having always had an excellent relationship with BDC, it was natural for us to turn to BDC Capital to take us to the next stage of the company’s development. In addition to the direct financial returns expected from our games in development, the reputation we hope to gain will help us obtain more large-scale game projects and attract even more talent.”
This transaction was led by Bernard Melameth, Director of Growth & Transition Capital in Montreal. “Much of iLLOGIKA’s success is owed to the both meticulous and down-to-earth management style of its CEO, David Fugère-Lamarre, and his team,” says Melameth. “Cautious and a good planner, David takes calculated risks, by securing for instance the financing needed to produce his games and by keeping costs under tight control. He has also created an environment that attracts and retains talent and has surrounded himself with a seasoned management team.”
About iLLOGIKA
iLLOGIKA, a video game developer and immersive experiences designer, has a team of 60 people in Montreal and offers a perfect blend of creativity and technological expertise. Having contributed to its clients’ successes in the past in the development of games and interactive experiences (such as Cuphead, Lara Croft GO and The Hunger Games exhibition at MGM Grand Las Vegas), iLLOGIKA is now positioned as a leading development team for new projects that will make it shine on the world stage.
About BDC Capital
BDC Capital is the investment arm of BDC—Canada’s only bank devoted exclusively to entrepreneurs. With more than $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.
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