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Behold Ventures raises $59.2m to support European devs

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Swedish game venture capital firm Behold Ventures has raised $59.2 million to invest in European developers.
As reported by GamesBeat, the firm has invested $21 million in 18 studios since its founding in 2021. Three of these companies were in the United Kingdom, while the rest were situated in the Nordics.
Founder and managing partner Karl Magnus Troedsson said 54% of capital resources were sourced from Europe, with 44% from Asia and 2% from the US.
The majority of investors were strategic at 43%, while 42% were institutional, 10% were family offices, high net worth individuals, and funds-in-funds, with 5% being general partners.
Behold Ventures is targeting over 25 early startups in the Nordic region, focusing on developers, tools, and tech investments.
It has already invested in Dead Astronauts, Seven Stars, and Red Rover. The firm also participated in a $7 million investment of Blue Scarab Entertainment in 2024.
“I think a lot of people are questioning just investing in game developers, because people don’t really feel that the risk level might be high,” said Troedsson.
“It’s not very cool to be in equity right now. We hear that several others are considering project financing as another vehicle for investment.”
He continued: “We haven’t found the next growth engine in our industry. Our bet is that games are the medium of our century. Games have the opportunity to entertain, to educate, to bring people together, to socialise.”
“So our best bet is whatever negativity from the financial side of games we see right now, it’s going to pass. We’re going to find our way. Maybe this is the new norm – then we’re going to get used to it, and we’re going to find our way.”

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Roblox reveals new licensing platform with Sega, Netflix, and more on-board

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Roblox has unveiled its new licensing platform, which enables intellectual properties to be licensed for use by Roblox creators in a highly simplified fashion, bypassing the lengthy process that negotiating games based on IP usually entails.
Already on-board with the program are Sega, Netflix, Lionsgate, and Kodansha. Plans are afoot to onboard more IP holders in the months ahead.
Sega is making its Like A Dragon available to licence, while Netflix is offering the massively successful TV shows Squid Game and Stranger Things. Hollywood studio Lionsgate brings the four movie series Divergent, Now You See Me, Saw, and Twilight to the platform. Kodansha will debut two of its manga titles soon.
The two key components of the platform are the Roblox License Manager and the Licenses catalogue. The goal is to provide media licensing at scale, according to Roblox, with IP holders being able to “self-serve” as their properties are integrated into experiences.
Rights holders can use the License Manager to dictate licensing terms, including how their IP is used, content maturity, and revenue share. Roblox is giving IP holders the option to take a tailored approach when it comes to revenue sharing, or offer licences more openly. They can also scan for IP usage across existing experiences.
Developers, meanwhile, can browse and apply to get licences in the catalogue.
As pointed out by Game Developer, the terms of use and revenue split varies depending on the licence. With Like A Dragon, for example, Sega only takes a 50% cut of Robux revenue (after all platform fees), but requires creators to have a 1,000 daily active user minimum to obtain the licence in the first instance.
The terms of using the licence, too, require hewing closely to the world, story, and characters of the Like A Dragon games, so it’s not a free-for-all.
Netflix, meanwhile, has no user minimum but creators only get 15% of Robux spent on their experiences.
Roblox’s announcement points out that the initiative is part of its goal to have 10% of all gaming content revenue running through its ecosystem. As well as more licence holders joining up, it’s exploring new types of licences to add to the platform.

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FBI seizes Nintendo Switch piracy site, Nsw2u, as “part of a law enforcement operation”

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The FBI has seized Nintendo Switch piracy site, Nsw2u, as “part of a law enforcement operation.”
The site – which hosted illegal Switch ROMs for players using emulators and hacked Nintendo systems – now sports a banner that states it was “seized by the Federal Bureau of Investigation in accordance with a seizure warrant issued pursuant to 18 U.S.C. 2323 issued by the United States District Court for the Northern District of Georgia as part of a law enforcement operation and action by the Federal Bureau of Investigation” (thanks, Kotaku).
Dutch organization the Fiscal Information and Investigation Service (FIOD) – a government agency of the Netherlands responsible for investigating financial crimes – was also involved in the seizure.
It follows similar legal action from Nintendo against similar sites like Yuzu and Tropic Haze.
Last month, Nintendo reportedly banned Switch 2 players from using its online services after using the MIG Switch, a flash cartridge that can store pirated game files.
In May, Nintendo revised its Account Agreement and Account Privacy Policy to tighten the rules on emulation and piracy. The new guidelines, which reflect over 100 changes between the last version and this update, went into force on May 7.
Before the changes, US players had to agree that they “are not allowed to lease, rent, sublicense, publish, copy, modify, adapt, translate, reverse engineer, decompile or disassemble all or any portion of the Nintendo Account Services without Nintendo’s written consent, or unless otherwise expressly permitted by applicable law.” This section has since been greatly extended in the new US agreement.

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Jobs roundup: July 2025 | Lego appoints Fredrik Loving as senior VP and global head of Lego Game

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It can be difficult keeping track of the various comings and goings in the games industry, which is why we compile them in semi-regular round-ups.
If you have new appointments or transitions in your company that belong here, please send the names of the appointees, new role and company, and prior role and company to newhires@gamesindustry.biz.
Fredrik Loving | Senior vice president and global head of Lego Game
The Lego Group has appointed Fredrik Loving as senior vice president and global head of Lego Game.
Loving has over two decades of experience in the games industry, starting in 2007 at Dice as producer and development director on the Battlefield franchise. He later became head of studio and general manager in 2013, leaving the position in 2017.
After his departure from Dice, Loving co-founded and headed up Goodbye Kansas in Los Angeles. In 2019, he became executive vice president of digital and interactive at Psyop. He then became president of digital games at Spin Master in 2020, a position he held for five years.
“[I’m] thankful for five amazing years at Spin Master and for all the inspiring and talented people I had the privilege to get to know and work with,” Loving said.
“[I’m] excited for my next chapter joining the Lego Group as senior vice president and global head of Lego Game, a brand that I have admired for many years and loved since childhood.”
Thomas Wakelin | Social media and content manager, King
King has appointed Thomas Wakelin as its social media and content manager.
Prior to joining King, Wakelin was global digital marketing manager at The Lego Group between June 2023 and June 2025.
Wakelin entered the games industry in 2014 during an internship at Microsoft as a partner marketing executive.
He then worked as a social media manager on a summer contract in 2015, and returned a year later in the same position for two years before becoming social marketing manager in June 2019.
“I’m really excited to start my new position at King as their social media and content manager,” said Wakelin. “Watch this space – we are going to have some incredible partnerships, campaigns, and moments to celebrate with players across the world.”

Jonathan Zweig | Chief revenue officer, Keywords Studios
Jonathan Zweig has joined Keywords Studios as chief revenue officer.
Zweig will “work closely with Keywords’ studios and teams to align solutions with partner goals and enhance delivery through technology-enabled capabilities”.
He recently served as chief commercial officer at Riot Games, and has previously held senior leadership roles at Activision Blizzard and The Walt Disney Company.
“Keywords Studios has built an impressive global presence with exceptional talent,” said Zweig. “This is a time of change across the industry, but also one full of possibility. I’m looking forward to working closely with our partners to support their goals, unlock new opportunities, and connect with fans in meaningful ways.”
Lucy Smith | Senior level designer, Sumo Digital
Sumo Digital has promoted Lucy Smith to senior level designer.
Smith joined Sumo Digital in October 2019, starting as an assistant games designer before becoming junior level designer in 2020, then level designer in November 2021 prior to her newest role.
She started her career at Hammerhead as a playtester for 11 months, starting in November 2018.

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