Arrowpoint Advisory has advised on a multi-million pound growth capital investment by Alcuin Capital Partners in Dovetail Games, a market-leader in the development and publishing of train, flight and other simulation games.
The funds will be used to accelerate the development of technology and content for Dovetail's three simulation genres, as well as the implementation of Dovetail Live, a powerful new player resource.
Dovetail specialises in the development and publishing of simulation entertainment products. The company has grown from seven employees to over 130 people based across two locations in Kent and Scotland since its launch in 2000.
Initially responsible for producing the Train Simulator series of products on PC, Dovetail has expanded its roster of games to include flight and fishing simulations, available for both PC and console. Dovetail Games is an award-winning company, ranked in the Sunday Times Hiscox Tech Track 100 in 2015.
Paul Jackson Esq OBE, CEO of Dovetail Games, commented: “We are excited to welcome the backing of Alcuin in this new chapter for the business and its community of players.
“We are delighted with the advice and support that Arrowpoint Advisory provided. Their knowledge of both the games and hobbyist markets meant that they grasped the Dovetail opportunity quickly and efficiently, and were able to offer hands-on support and guidance to our busy senior team. They created a genuinely competitive process and gave us the comfort of offers from several compatible investors. Without Arrowpoint Advisory, we would not have identified Alcuin, with whom we look forward to partnering on the next phase of Dovetail's journey.”
Mark Storey, Founding Partner at Alcuin Capital Partners, added: “Dovetail Games is just the sort of ambitious, growing, international business that we like to support. We know hobbies make great investments having backed Games Workshop almost 25 years ago!”
Nick Field, Associate Director at Arrowpoint Advisory, concluded: “Dovetail is a great example of the UK's ability to build world-class digital content businesses with leading positions in high-value specialist markets.”