# Stillfront Group AB

Stillfront Group AB is an Asset Manager based in Stockholm, Sweden.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Stockholm, Sweden
- **Region:** Europe
- **Address:** Stockholm, Sweden
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** stillfront.com
- **LinkedIn:** https://www.linkedin.com/company/stillfront-group

## Regulatory record

- **Reports private funds:** No

## About

Stillfront Group AB was founded in 2010 as a holding company for game studios, with its first acquisition being the browser-game developer Bytro Labs in 2011. The firm's founders include Jörgen Larsson and others who saw an opportunity to acquire established free-to-play games with loyal user bases and extend their revenue curve through disciplined live operations and targeted marketing. The company went public on Nasdaq Stockholm in 2015. Stillfront's strategy focuses on acquiring mid-core and casual free-to-play games that have passed their development peak but maintain steady engagement; it then applies cross-studio best practices on user acquisition, analytics, and monetization. The portfolio spans strategy, simulation, role-playing, and casual genres. Confirmed holdings include the war-strategy series Supremacy 1918 (Bytro Labs), the empire-building title Goodgame Empire (acquired in 2017), and the mobile life-simulation game My Little Farmies. The geographic footprint is Europe-heavy with studios in Germany, Sweden, France, Italy, and the UK, plus a U.S. office in New York. As of 2025, Stillfront operates over 20 studios and roughly 200 live games. The company reported about 1,000 employees in its last annual report. In April 2024, Stillfront completed the acquisition of the mobile game developer FuturLab. A related entity is the Stillfront Group Foundation, which supports charitable initiatives but is structurally separate from the operating company. Stillfront's structural differentiation lies in its decentralized acquisition-and-operate model: it does not centralize game development or brand management, instead allowing acquired studios to retain their identity while benefiting from group-level finance, legal, and user-acquisition infrastructure. This contrasts with traditional game publishers that impose creative mandates, and with typical holding companies that provide only capital.

## Sectors

- Mobile Gaming
- Video Games
- Media & Entertainment

## Questions

### Who makes investment decisions at Stillfront Group?

Investment decisions are made by the executive management team led by the CEO and the M&A function, with oversight from the board of directors. The CEO is part of the founding team, and deal approval requires board sign-off for larger transactions (per Stillfront's annual reports). The firm does not disclose a single named investment committee.

### Does Stillfront Group participate in game development or only acquisitions?

Stillfront is primarily an acquirer and operator of existing games and studios, but it does not centralize game development. Each studio operates independently on creative direction and live operations. The group provides shared services — user acquisition, analytics, finance, legal — and facilitates cross-studio knowledge sharing (per the firm).

### What criteria does Stillfront Group use to evaluate potential acquisitions?

Stillfront evaluates studios based on long-term game viability, engagement metrics, and revenue predictability. Key criteria include a game's lifecycle stage, unit economics, user retention rates, and the founder's willingness to stay on post-acquisition. The firm avoids high-risk pre-launch or single-hit games, preferring diversified portfolios of live games with proven monetization.

### What is Stillfront Group's known geographic focus beyond Europe?

Stillfront has a U.S. office in New York and has made acquisitions in North America, including the 2022 purchase of the mobile game publisher Joju Games. The European footprint accounts for the majority of its studios and revenue, but the firm has expressed interest in expanding selectively into Asia and Latin America per investor materials.

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Last updated: 2026-06-03T20:00:00.000Z

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