French game developer Don’t Nod could run out of money by November if it is unable to secure further financing.
That’s according to the company’s auditor, who wrote in a report – spotted by journalist Guathier Andres – that the chair of the board, Oskar Guilbert, has been trying to find more funding for “several months” now. As of April 13, 2026, Don’t Nod had around €8.8 million of cash.
The company has asked Tencent, its main shareholder, for a short-term increase in capital, but the Chinese giant seemingly is not interested. The firm also does not want to contribute to game project financing via co-production agreements.
For the year ending December 2025, Tencent held 41.9% of Don’t Nod stock and 33.5% of its voting rights.
Guilbert has also been in discussions with “some major industry players” in the games space but this has not resulted in any financing.
The company was hoping to have secured a response from a “major partner” that would help finance its current game projects by the end of May 2026.
Don’t Nod is best known for Life is Strange, but in recent years has released new IP in Lost Records: Bloom and Rage, and Aphelion. The company made an undisclosed number of staff redundant in 2025, following the firm restructuring around three genres – RPG, narrative adventure, and action adventure.
Don’t Nod isn’t the only company facing problems due to a decline in Chinese interest in outside studios. Across the last few years, fellow giant NetEase Games has divested from many studios it had founded and funded, such as Fantastic Pixel Castle.
GamesIndustry.biz has reached out to Don’t Nod and Tencent for comment.
