FIRY sells Exit Games stake for $55m, deal closed Oct 2, 2026
Key takeaways
- Sale price: $55 million in cash
- Stake sold: entire 10.5% holding in Exit Games
- Deal closed: October 2, 2026
- Original investment: $50 million in July 2021
FIRY has sold its entire 10.5% stake in Exit Games for $55 million in cash, completing the company’s exit from the Hamburg studio behind Photon. The transaction closed on October 2, 2026, and FIRY received the full proceeds, the company confirmed to PocketGamer.biz.
FIRY originally invested $50 million in Exit Games in July 2021, when it still operated under the name Skillz Inc. The company says the sale returns roughly 1.1x its original investment in cash. CEO and founder Andrew Paradise noted the timing: “We invested in Exit Games in 2021, at what turned out to be the height of the venture market over the last decade.”
Paradise also framed the sale as a liquidity decision: “Five years later, the average 2021-vintage fund has distributed five cents on the dollar, and most of that vintage is still sitting in illiquid marks. We are exiting in cash and above our purchase price. Cash back on the balance sheet gives FIRY optionality in our other endeavours.” Exit Games’ management built the business around Photon, a multiplayer networking technology used across major engines and platforms and by thousands of games, including Stumble Guys.
Why it matters
Takeaway: FIRY walked away with cash above its 2021 price and a clean exit from a 10.5% holding; the company says that immediate liquidity is meant to give it flexibility for its other businesses rather than further illiquid exposure.
Original source
PocketGamer.biz
