Glass Cannon Unplugged develops AAA board games based on popular computer game franchises. They successfully completed Frostpunk: The Board Game under a licensing agreement with 11 bit studios, achieving the 60th highest-funded project on Kickstarter and generating substantial profits (over 5 million PLN). Currently, they are working on Apex Legends: The Board Game, licensed by EA, which has been well-received and shows strong potential in retail sales, particularly due to the brand and target audience. 

Mercaton SICAV decided to invest in the project due to: 

1. Growing Global Market: The board games market was valued at USD 27.41 billion in 2023 and is expected to reach USD 43.31 billion by 2030, growing at a CAGR of 6.75% from 2024-2030. 

2. Top Games Licenses Portfolio: GCU has a comprehensive portfolio and project schedule for the next 5 years, planning to release 19 games from 2024 to 2027. The company aims to achieve an average of 4 game releases per year during this period. 

3. Special Situation: Opportunity to enter the project in preIPO phase with significant value growth potential 

The company aims to increase its value through several key initiatives: 

1. Game Portfolio Expansion: Plans to release 5-6 licensed games per year from 2026 to 2030. 

2. Factory Ownership: Intends to own a plastic game figure factory by 2026/2027, with an expected 9-10% margin increase starting in 2027. 

3. Market Consolidation and Funding: GCU aims to consolidate the market through acquisitions, is self-funded with all licenses paid, and successfully secures grants.