South African billionaire Clive Calder’s family office and his son Keith Calder’s Snoot Entertainment are investing $46 million in Cloud Imperium Games, the studio behind Star Citizen, an uncompleted video game that’s raised a record $210 million directly from fans. Los Angeles-based Cloud Imperium said Thursday the new capital will go towards marketing the single-player Squadron 42 for a summer 2020 release date, one of the two commercial releases of Star Citizen. On Thursday, Cloud Imperium released financial data that shows the company using up most of its cash every year, thanks to a ballooning workforce. By the end of 2017, the company brought in a total of $207 million and had spent $193 million since 2012. With a headcount of 464 across five studios in 2017, salaries cost the company $30 million.

Source: Forbes December 20, 2018 18:00 UTC