Maze Theory shares held by Calculus Capital EIS Funds and the Calculus VCT plc have been purchased by a strategic investor, Pluto Digital. Pluto Digital is a crypto technology and operations company, pioneering the next generation of crypto technologies in decentralised finance and metaverse blockchain gaming sectors.  

Maze Theory is a digital entertainment studio focused on the creation and development of immersive entertainment, across multiple platforms, including Virtual Reality (VR), PC, Console and Mobile. During Calculus’ holding period the company launched Doctor Who: The Lonely Assassins for Mobile, in March 2021 and Doctor Who: Edge of Reality for PC/Console, in October 2021.

Maze Theory was approached by Pluto Digital last year, and the deal completed in December 2021. Alexandra Lindsay, Investment Director at Calculus Capital, who sat on the Board of the company said: “We were pleased to sell Maze Theory at a premium to a strategic investor with a significantly longer investment time horizon. We wish the company all the best in the future.”

This is the 8th positive exit Calculus Capital has delivered since January 2021, following on from CloudTrade last October which delivered 4.0x return to investors.