Congratulations to our portfolio company, Unity Software, on their IPO on the New York Stock Exchange. Unity is the World’s leading real-time 3D (RT3D) development platform providing tools to create rich, interactive 2D, 3D, VR and AR experiences, enabling developers to develop performance optimized high end games and renderings with ease.
Our Initial Investment in Unity:
WestSummit’s relationship with Unity spans over nine years, when we led their Series B in July 2011. At the time, we were blown away by the depth of Unity’s software platform created by David Helgason and Joachim Ante. We saw an exciting opportunity to add significant value and help Unity expand into Asia and help build its presence in China. It was just starting to gain significant commercial traction and had doubled to 150K MAU. It has been quite the ride as the Company has grown 100x since our investment and now boasts over 1.5M monthly creators!
Today, we feel Unity is at another exciting inflection point as it continues to hold leading market share in the gaming market (50%+ made with Unity), and also expands its TAM into emerging RT3D markets such as automotive, transportation and manufacturing, film, architecture, and engineering and construction.
It has been a privilege to sit on the Board for over 9 years and honor to partner with JR, Joachim, David and the rest of the management. We cannot wait to see how Unity continues to transform the way we interact and build in an immersive 3D world! As always, it has been a pleasure co-investing with our friends at Sequoia Capital, DFJ Growth, Silver Lake, and many more!
WestSummit Milestones:
– Second portfolio company to reach over $10 billion in market capitalization (GigaDevice: SHSE:603986)
– Second multi-billion dollar portfolio company in gaming sector (Twitch acquired by Amazon)
– Seventh IPO in WestSummit’s portfolio (fourth multi-billion dollar public company)
