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Lancashire gaming studio levels up with NPIF II backing

Press release 12 February 2025

Play XD Ltd, an independent game studio and game-tech software development company based in Chorley, Lancashire has received a £100,000 investment from NPIF II – River Capital & GC Business Finance Smaller Loans, which is managed by River Capital & GC Business Finance as part of the Northern Powerhouse Investment Fund II.

image of a gentleman at the game studio

Play XD Ltd, an independent game studio and game-tech software development company based in Chorley, Lancashire has received a £100,000 investment from NPIF II – River Capital & GC Business Finance Smaller Loans, which is managed by River Capital & GC Business Finance as part of the Northern Powerhouse Investment Fund II.

The investment will support the company's growth as it develops its latest gaming title in partnership with tech giant, Meta.

Play XD, founded in 2019, has firmly established itself in the gaming industry, securing its significant development partnership with Meta in the summer of 2024.

The company's upcoming virtual reality game, Primal Rumble ®, has already achieved key development milestones and is scheduled for launch in Q2 2026 on the Meta Quest platform.

The NPIF II investment will support the creation of nine new skilled jobs in Lancashire, including roles for producers, programmers, artists, and marketing professionals. It will also strengthen Play XD's capability to deliver on its ambitious growth plans while maintaining its existing client relationships.

Phil Goddard, Founder and Creative Director of Play XD, said:

This NPIF II investment from River Capital comes at a crucial time in our growth journey. With Meta's backing and now River Capital's support, we're well-positioned to expand our team and deliver an exceptional gaming experience to a global audience while keeping our roots firmly in Lancashire.

Jonathan Nelson, Investment Manager at River Capital, commented:

Play XD represents the kind of innovative, forward-thinking company we're excited to support. Their successful track record, combined with their recent Meta partnership, showcases the high-calibre tech talent we have in the North. This investment will help them capitalise on a significant market opportunity while creating skilled jobs in the region.

Sue Barnard, senior manager at the British Business Bank, said:

The gaming space is ever-growing, thanks to the constant developments in technology and demand from loyal gamers. Play XD has used this to its advantage, securing contracts with the likes of Meta, and continuing to mark the North West as a hub for gaming talent. It's great to see the business using NPIF II funding to expand its international reach from its Lancashire base and create nine new jobs in the process.

The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

Further Information

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Notes to editors

About River Capital

River Capital exists to fuel ambitions. This includes the ambitions of our clients and our colleagues as well as those of the management teams we invest in.

We do that by managing a range of debt and equity funds which focus primarily on the North West, totalling over £100m, from our offices in Liverpool and Manchester.

For more information, visit the River Capital website River Capital

About the Northern Powerhouse Investment Fund II

  • Operated by the British Business Bank, the Northern Powerhouse Investment Fund II (NPIF II) provides a mix of debt and equity funding. NPIF II will offer a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. It works alongside the Combined Authorities, Local Enterprise Partnerships (LEPs), and Growth Hubs, as well as local intermediaries such as accountants, fund managers and banks, to support the South West’s smaller businesses at all stages of their development. 
  • The funds in which the NPIF II invests are open to businesses with material operations, or planning to open material operations, in: Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, City of Kingston upon Hull, East Riding of Yorkshire, North Yorkshire, South Yorkshire, West Yorkshire, Hartlepool and Stockton-on-Tees, South Teesside, Darlington, Durham, Northumberland, Tyneside, Sunderland.
  • Supported by Nations and Regions Investments Limited, a subsidiary of British Business Bank plc, the Bank is a development bank wholly owned by HM Government. Neither Nations and Regions Investments Limited nor British Business Bank plc are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).

The Northern Powerhouse Investment Fund II

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