Updated Mar 17, 2026 by AEVI
Investment Agreements (AI) function as a hybrid financing model that provides developers with cash infusions linked to development milestones without requiring immediate equity dilution.
AI structures grant investors political and economic rights—including voting and dividend privileges—comparable to shareholders, while tying repayment directly to a percentage of project revenue.
Key contractual protections for investors include profitability targets with time-bound thresholds, 'bad leaver' clauses for founders, and the right to capitalize debt into equity if revenue targets are not met.
Unlike traditional bank debt, AI offer variable repayment horizons and a risk profile that aligns investor returns directly with the commercial performance of the specific game project.
Spanish studios can use AI to maintain initial ownership control while securing necessary capital, provided they are prepared to negotiate governance influence and preferential rights for future share purchases.
The 2025 landscape for Spanish game development necessitates a sophisticated understanding of AI terms to balance the need for external funding with the goal of long-term operational autonomy.
Investment Agreements (AI) function as a hybrid financing model that provides developers with cash infusions linked to development milestones without requiring immediate equity dilution.
AI structures grant investors political and economic rights—including voting and dividend privileges—comparable to shareholders, while tying repayment directly to a percentage of project revenue.
Key contractual protections for investors include profitability targets with time-bound thresholds, 'bad leaver' clauses for founders, and the right to capitalize debt into equity if revenue targets are not met.
Unlike traditional bank debt, AI offer variable repayment horizons and a risk profile that aligns investor returns directly with the commercial performance of the specific game project.
Spanish studios can use AI to maintain initial ownership control while securing necessary capital, provided they are prepared to negotiate governance influence and preferential rights for future share purchases.
The 2025 landscape for Spanish game development necessitates a sophisticated understanding of AI terms to balance the need for external funding with the goal of long-term operational autonomy.