Warhammer 40K: Space Marine 2 dev secures significant investment from leading equity firms

Saber Interactive, the developer of Warhammer 40K: Space Marine 2, has recently acquired a significant equity investment from two leading equity firms. The investment has allowed the developer to pay off its debt to holding company Embracer Group, pending an additional amount in late 2024/early 2025.

Aleph Capital Partners and Crestview Partners made the investment in Saber Interactive. These are leading equity companies based in London and New York, respectively. The exact amount each company invested hasn’t been disclosed, but it must be quite a lot for the developer to be able to pay off Embracer Group, which acquired it in 2020. With this new investment, Saber Interactive has more control over what it makes and how it makes it because it’s outside of an umbrella company, which bodes well for its future, especially off the back of the success of Warhammer 40K: Space Marine 2.

Almost independent

It’s so easy to get lost when trying to understand what this sort of news means, so I’ll try to explain it without all the business jargon. First, it’s important to note that Saber Interactive was acquired by Embracer Group back in February 2020. Saber Interactive was, of course, paid as part of this deal.

The period from 2020 to 2021 was immensely successful for video games in large part because of worldwide lockdowns during the COVID-19 pandemic. As those lockdowns lifted, people started going outside again and playing games for less time as a result. It’s no secret that Embracer Group has been laying staff off and closing entire studios since that time.

While Saber Interactive has several successful titles under its belt, including World War Z, SnowRunner, Expeditions: A MudRunner Game, and Insurgency: Sandstorm, it has felt like one wrong move could cause a studio to shut down.

That’s why this investment in Saber Interactive is so exciting for the developer. Embracer Group explained in a press release how the studio has received an early payment for the sale of assets in the studio.

What’s actually happened is that Aleph Capital Partners and Crestview Partners have acquired a chunk of equity in the developer in exchange for a large sum of money. Saber Interactive has used that money to pay off Embracer Group. This means that Saber Interactive now owns more of its own shares and is closer to being an independent studio than it has been for four years.

It’s hard to believe that Saber has been in business for nearly a quarter of a century. While we have grown to over 3,000 developers across the globe, we still feel like a startup with tremendous opportunity for rapid growth.

Matthew Karch, CEO of Saber Interactive

However, as I mentioned, Aleph Capital Partners and Crestview Partners now own equity in Saber Interactive, which likely means they each own a percentage of the company’s shares. Without going into the weeds on this, the result is that Jamie Rahamim, Managing Director and Head of Media at Aleph, and Brian Cassidy, President and Head of Media at Crestview, now sit on Saber Interactive’s Board of Directors.

They’re not alone, though. Saber Interactive’s Andrey Iones, Chief Operating Officer, and Matthew Karch, CEO, are also on the Board of Directors. While the number of shares each party owns, the investors and Saber Interactive, dictates who has the most power, equity companies likely won’t be elbowing in on any development decisions Saber Interactive makes.

Aleph Capital Partners and Crestview Partners are interested in seeing their investment and the shares they own bear fruit. This will come in the form of dividends and share value increases as Saber Interactive’s turnover and reputation as a developer grow.

Considering how popular Warhammer 40K: Space Marine 2 is already, and the plans the developer has for post-launch content, it’s in a very safe position. However, these equity companies now have some level of influence, so if things take a turn in the future, Saber Interactive may be forced to make tough choices.

There’s no denying that Saber Interactive is now in a much better position than it was when it was under Embracer Group. It has more control over how it operates and, from the sounds of things, shouldn’t be forced into making layoffs or canceling games. Instead, it can forge its own path forward with the financial freedom afforded by these recent investments.