Execution Labs announced it will participate in BDC Venture Capital’s convertible note program, providing unprecedented support to early-stage games companies. BDC Venture Capital, which led Execution Labs’ seed funding round in November of last year, will offer one-time $150,000 convertible notes to select companies who come out of XL’s program as market-ready game studios.
BDC Venture Capital, which led Execution Labs’ seed funding round in November of last year, will offer one-time $150,000 convertible notes to select companies who come out of XL’s program as market-ready game studios. The funding, which is structured like a loan at the time of the investment, is meant to help new studios weather a period that can be very tough for them financially, as they continue working to generate revenues and to position themselves to successfully raise subsequent financing from other investors.
Jason Della Rocca, Co-founder of Execution Labs, added “The capital we provide during the course of the program is really designed to fund the teams’ game development and initial go-to-market efforts. The BDC Venture Capital convertible note program now gives our graduating studios time to continue running their games as a service and ramp their revenues after they leave XL. In addition to giving our teams more time to get traction, having a note in place from a reputable investor like BDC Venture Capital makes it easier for them to attract additional financing to expand their studios and release more games.”
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