Totally realized money exit from a 2021 classic the place the common U.S. enterprise fund has returned 5 cents on the greenback
LAS VEGAS, October 05, 2026–(BUSINESS WIRE)–Firy Inc. (NYSE: FIRY) (“FIRY” or the “Firm”) as we speak introduced that it accomplished the sale of its whole fairness stake in Exit Video games, representing roughly 10.5% of Exit Video games’ excellent share capital, again to Exit Video games for whole money consideration of $55 million. The transaction closed on Friday, October 2, 2026, and FIRY obtained the proceeds in full.
“Exit Video games’ administration has constructed a terrific enterprise round Photon, and we’re rooting for them,” mentioned Andrew Paradise, CEO and Founding father of FIRY. “We invested in Exit Video games in 2021, at what turned out to be the peak of the enterprise market over the past decade. 5 years later, the common 2021-vintage fund has distributed 5 cents on the greenback, and most of that classic continues to be sitting in illiquid marks. We’re exiting in money and above our buy worth. Money again on the stability sheet provides FIRY optionality in our different endeavors.”
The sale represents a completely realized money return of roughly 1.1x FIRY’s unique funding, which was made in July 2021 close to the height of personal expertise valuations. By comparability, 2021-vintage US enterprise capital funds had distributed a mean of 0.05x of paid-in capital at their five-year mark, the bottom of any classic after 5 years since 1997. FIRY’s realized return is roughly 22 instances that common.
FIRY acquired its minority stake in Exit Video games, the Hamburg-based developer of the Photon multiplayer networking expertise, for a purchase order worth of $50 million in July 2021 beneath an settlement entered into by the Firm beneath its former title, Skillz Inc.
Supply: PitchBook, a Morningstar firm, “The 2021 Vintage’s Weak DPI Is Not the Warning Sign It Looks Like,” August 6, 2026. Classic DPI is a fund-level common for US enterprise capital funds, internet of charges and carry; FIRY’s 1.1x displays gross money proceeds on a single funding.
About Firy Inc.
FIRY is a worldwide holding firm constructed to gas enterprise potential. By its rising portfolio, together with Skillz, RZR, and Beamable, FIRY operates on the intersection of content material, id, commerce, and efficiency advertising. By leveraging first-party information, enterprise-scale infrastructure, and scalable working programs, FIRY allows scalable development whereas sustaining a disciplined give attention to capital effectivity and long-term worth creation.
About Exit Video games