NorthEdge invests in Cubic Motion

A spokesperson for NorthEdge told unquote" the GP is investing up to £20m in exchange for a minorty stake in the business.

NorthEdge is currently deploying capital from its second fund, which held a final close in March 2016 on £300m and typically writes equity cheques of £5-45m.

The fresh funding will enable Cubic Motion to fund the further development and roll-out of its latest real-time facial animation software, and expand internationally. The company is aiming to double its headcount within the next two years, according to a statement.

As part of the deal, the head of NorthEdge's Manchester operations, Jon Pickering, and investment manager George Potts will take a seat on the Cubic Motion board of directors.

Company
Headquartered in Manchester Science Park and founded in 2009, Cubic Motion is a 3D animation and computer-generated imaging business focusing on facial animation. It operates in the gaming, motion picture and live conferencing fields.

To date, Cubic Motion has primarily focused on the video game sector and works with clients including Activision, Epic, EA, Ninja Theory and Sony. The company has worked on gaming titles including Call of Duty, Hellblade and Squadron 42 (Star Citizen).

Cubic Motion has a headcount of around 70 people, including researchers, engineers, animators and producers. According to a NorthEdge spokesperson, the business generates revenues of £3m.

People
NorthEdge Capital – Jon Pickering (head of Manchester); George Potts (investment manager); Greg Holmes (investment executive).
Cubic Motion – Gareth Edwards (CEO).

Advisers
Equity – Hill Dickinson, David Mkhitarian, James Down (legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• NorthEdge Capital