Psychonauts 2 crowdfunding cash held up by approval checks - MCV

Psychonauts 2 crowdfunding cash held up by approval checks

Equity investment share of money raised through Fig must undergo additional clarification by US SEC
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More than half of the $3.3 million pledged towards Psychonauts 2 is yet to make it to developer Double Fine.

The long-awaited sequel was backed through equity share crowdfunding platform Fig, which splits money between traditional rewards and investment.

The latter is the issue holding up almost $1.9 million in money pledged towards the title.

While the rewards funding has made it through to Double Fine, the United States Securities and Exchange Commission (SEC) must approve the equity investment half of the cash with a series of clarifications.

"The SEC filing must be qualified before we can collect the investment reservations placed by unaccredited investors," Fig told Polygon.

"We received comments back from the SEC on January 17th, which was 26 days after we made our filing, and the number of comments we received were low.

“As a result, we currently expect to be able to complete the unaccredited process in the next four to eight weeks."

Fig also revealed that most traditional reward-focused backers pledged on average $81, while investors put forward anywhere between $500 and $2,000.

As well as backers and investors gained through the Fig campaign, another anonymous investor also contributed towards the game’s predicted $10 to $13.5 million budget.

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