Virtuos Funding, Investors & Competitors
Virtuos has raised $165M across 2 funding rounds, most recently a $150M undisclosed-stage round in September 2021.
Last Virtuos funding round
$150M
Undisclosed stage · Sep 2021
Cumulative funding Virtuos raised
$165M
across 2 funding rounds
Key investors in Virtuos
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3D Capital PartnersBPEA EQT
- Xuhui Venture Capital
About Virtuos
Virtuos is a Singapore-headquartered game studio delivering full-cycle development and AAA 3D art for console, PC, and mobile titles. Studios in China, Europe, Canada, and the US serve publishers like EA, Ubisoft, and Activision.
Founded
2004
HQ
ShanghaiWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services
Virtuos Funding History
Virtuos has raised a total of $165M across 2 funding rounds.
Virtuos' first fundraising round was a $15M Series C in March 2018. The most recent completed round was a $150M undisclosed-stage round in September 2021.
Virtuos funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2021 | Undisclosed stage | BPEA EQT (lead); 3D Capital Partners | $150M | Virtuos is a leading global game development company specializing in full game co-development and end-to-end art production services for major publishers and developers worldwide. The company operates over 2,300 employees across three continents and is recognized as one of the largest entertainment content creators globally, known for high-value-added services in AAA content development. On September 7, 2021, BPEA invested USD150 million in Virtuos to support the company's next phase of accelerated growth and finance its buy-and-build strategy across different geographies. Following the investment, BPEA became the largest external shareholder alongside existing 2018 investor 3D Capital Partners, while CEO Gilles Langourieux and management retained over 70% of capital. The investment was designated to support expansion of existing studios, acquisition and establishment of new studios to expand global footprint, growth of Virtuos' digital platform, and digitalization of production platforms across the global studio network to improve productivity and enable innovation in delivering games for multiple hardware platforms. |
| Mar 2018 | Series C | 3D Capital Partners (lead); Xuhui Venture Capital (lead) | $15M | Virtuos is a leading video game content production company founded in 2004, specializing in game development and AAA 3D art production for console and mobile titles, with operations in China, Vietnam, Canada, France, Japan, Ireland, and the United States. At the time of the round, it employed 1,500 full-time professionals, enabling clients to generate additional revenue and achieve greater operational efficiency. On March 14, 2018, Virtuos raised $15 million in a funding round led by 3D Capital Partners, a joint venture between French investment holding Enthéos and Hong Kong-based Leitmotiv Private Equity, with participation from long-term investor Xuhui Venture Capital. CEO and founder Gilles Langourieux retained majority ownership, with the balance shared among managers, 3D Capital Partners, and Xuhui Venture Capital. The funding, combined with bank financing, supported accelerated growth, a buy-and-build strategy to double the business size within three years, expansion of studios, and geographic scaling. The round coincided with Virtuos relocating its headquarters from Shanghai to Singapore and establishing a new R&D center in partnership with Singapore’s Economic Development Board to advance computer graphics, rendering, and production techniques. |
Who has invested in Virtuos?
3 investors have backed Virtuos across its funding rounds, including 3D Capital Partners, BPEA EQT and Xuhui Venture Capital.
Lead investors include BPEA EQT, 3D Capital Partners and Xuhui Venture Capital.
Virtuos Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3D Capital Partners | -- | 2 | Lead | Mar 2018 |
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Start Free TrialAcquisitions by Virtuos
Virtuos has acquired 9 companies to date.
Last acquisition by Virtuos was on January 23rd 2025. Virtuos acquired Abstraction for undisclosed valuation.
Latest Acquisitions by Virtuos
| Description | Abstraction is a game development studio producing titles for digital platforms. The company focuses on creating immersive gaming experiences through advanced design and technology. | Pipeworks Studios is an Eugene-based video game developer creating titles for consoles and PC including titles like Barbie Dreamhouse Party and The Lord of the Rings: War in the North. Acquired by Embracer Group in 2022, it partners with publishers like Netflix and LEGO. | Third Kind Games is a Leamington Spa-based studio producing racing, multiplayer shooters, and simulation titles for PC, console, and mobile platforms. It collaborates with publishers like Electronic Arts and Ubisoft on projects utilizing Unreal Engine 5 for photorealistic graphics and cross-play features. | Beyond-FX is a visual effects studio based in Vancouver providing immersive interactive VFX for entertainment across film, TV, and gaming. Founded in 2020, it delivers particle simulations and real-time rendering for projects like Netflix series using Houdini and Unity. The 30-person team has contributed to 10 feature films, processing over 5,000 VFX shots with hardware clusters supporting 8K resolutions. | |
| HQ Country |  |  |  | | |
| HQ City | Eindhoven | Eugene, OR | Leamington Spa | Los Angeles, CA | |
| Deal Date | 23 Jan 2025 | 23 Jan 2025 | 20 Aug 2024 | 15 Mar 2024 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Virtuos Competitors
Virtuos competitors include listed companies like Oriental Pearl Group and Alpha, and private ones like Epic Games, Moon Active, Improbable and Spotter.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Raleigh, NC | Private | $5.7B | - | $23B | 3.9x | |
 Tel Aviv | Private | $1.5B | - | $5B | 3.3x | |
| China | Publicly listed | $1.1B | $296M | $4.2B | 3.2x | |
| London | Private | $104M | - | $3B | 29.1x | |
| Los Angeles, CA | Private | - | - | $2B | - | |
| China | Publicly listed | $369M | $28M | $1.9B | - |
Virtuos Public Comps
Virtuos is still privately-owned, but its public comps include Microsoft, Netflix, Disney, NetEase, Warner Bros. Discovery, Nintendo, Take-Two Interactive, Roblox, Universal Music and Liberty Media.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $332B | $205B | 11.1x | 10.7x | 18.0x | 17.5x | |||
| $45B | $30B | 7.1x | 6.4x | 10.6x | 19.8x | |||
| $94B | $19B | 2.4x | 2.3x | 12.3x | 10.3x | |||
| $17B | $5.8B | 3.1x | 3.0x | 8.9x | 7.7x | |||
| $37B | $21B | 2.7x | 2.8x | 4.8x | 12.0x | |||
| $15B | $3.5B | 3.3x | 3.3x | 14.0x | 18.1x | |||
| $6.7B | $431M | 6.1x | 5.3x | 94.0x | 29.8x | |||
| $4.9B | ($1B) | 6.7x | 4.7x | (32.6x) | 24.1x | |||
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Common questions about Virtuos
| When was Virtuos founded? | Virtuos was founded in 2004. |
| Where is Virtuos headquartered? | Virtuos is headquartered in Shanghai, China. |
| Is Virtuos publicly listed? | No, Virtuos is a private, VC-backed company. |
| How much funding has Virtuos raised? | Virtuos has raised $165M across 2 funding rounds. |
| What was Virtuos' last funding round? | Virtuos' last funding round was a $150M undisclosed-stage round in September 2021, led by BPEA EQT. |
| Who are Virtuos' investors? | Virtuos' investors include 3D Capital Partners, Xuhui Venture Capital and BPEA EQT. |
| Which companies are comparable to Virtuos? | Companies comparable to Virtuos include Epic Games, Moon Active, Oriental Pearl Group, Improbable, Spotter and Alpha. |
| How many companies has Virtuos acquired? | Virtuos has acquired 9 companies, including Abstraction, Pipeworks, Third Kind Games, Beyond-FX and Glassegg. |
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