Fig (company)

Fig was a crowdfunding platform for video games. It launched in August 2015. Unlike traditional crowdfunding approaches like Kickstarter, where individuals can back a project to receive rewards, Fig used a mixed model that includes individual backing and the opportunity for uncredited investors to invest as to obtain a share of future revenues for successful projects. At the end of 2017, four projects had begun generating returns, returning 245% to Fig investors. Fig was acquired by Republic in 2022, and later liquided into the parent company in May 2023. Fig was founded in August 2015 by Justin Bailey (formerly, COO of Double Fine Productions), and Bob Ippolito. The advisory board is composed of executives from across the video game industry with previous experience in crowdfunding and investing in video game projects: Aaron Isaksen of the Indie Fund, Brian Fargo of inXile Entertainment, Feargus Urquhart of Obsidian Entertainment, and Tim Schafer of Double Fine Productions. The platform is backed by funding from Spark Capital. Alex Rigopulos, from Harmonix, and Cliff Bleszinski, formerly of Epic Games and Boss Key Productions, and Randy Pitchford of Gearbox Software have since joined the advisory board of Fig. The company was initially backed by seed funding from Spark Capital. In January 2017, it obtained another $7.84 million in funding from Spark and Greycroft Partners, among other smaller investors. In February 2017, Fig announced it has established a "Fig Finishing Fund" available to those projects that have been successfully backed on Fig as to help complete any late-stage development hurdles or final publishing and marketing pushes. Should projects qualify, they will be able to obtain at$20,000 from the Finishing Fund. In 2017, Fig set aside $500,000 of its own funds available for the Finishing Fund pool. The name "Fig" derives from Hotel Figueroa, located along Figueroa Street, a short distance from the Los Angeles Convention Center where the annual Electronic Entertainment Expo is traditionally held; Hotel Figueroa became a common social hub during these E3 events.