Dauntless developer Phoenix Labs is making another huge move this week, as it’s apparently secured investment that will allow its management to buy it out from from its holders at Singapore-based Garena and go private. Garena, whose parent company Sea was an original investor in the Canadian Phoenix Labs, paid $150M for the company back in 2020, though we don’t know what Phoenix Labs management paid.
Dauntless itself, of course, is still doing well and has talked up its 30M-person playerbase, but Phoenix Labs has several other games in the works. Last May, it said it was working on “close to 10 projects ranging from early R&D to being in full production” as the studio was “examining everything from science fiction to fantasy, strategy to action, casual to core—and everything in between.” One of those games is the adorable co-op farm sim Fae Farm, which is apparently still on the way this spring.
