Sign up for the GI Daily here to get the biggest news straight to your inbox

Skybound Entertainment has invested in Mega Cat Studios, the company currently working on upcoming RPG WrestleQuest.

While Skybound did not disclose a figure, GamesIndustry.biz understands this is a multimillion dollar investment.

The company, which owns The Walking Dead franchise and operates in multiple forms of entertainment, also says this is the first time it has made an investment into a game developer.

Pittsburgh-based developer Mega Cat Studios has previously made a mix of titles for both modern platforms and retro consoles, even launching new titles as cartridge-only releases.

Its current project is WrestleQuest, a retro-style RPG built around real wrestlers such as “Macho Man” Randy Savage. The game is due for release in May 2023.

In addition to finance, Mega Cat founder James Deighan said the deal will also give his team “greater access to other Skybound IP and publisher resources.”

The investment follows the news that Skybound has launched a Regulation A+ campaign to raise more capital, allowing members of the public to invest in the company.

So far, this has raised more than $11.8 million, although the bulk of that was pledged before the campaign went fully public.