Former staff from Capcom, Ubisoft, WayForward and Riot Games have set up a brand new studio called Pahdo Labs.

GameDeveloper reports that the venture has already secured investment from Andreessen Horowitz, Global Founders Capital, and BoxGroup. Pahdo Labs is working on a co-op roguelike action RPG title called Starlight Re:volver.

This game was announced earlier this week and is set for a 2025 Early Access release.

The venture is headed up by CEO Daniel Zou, formerly of Robinhood, while Ubisoft vet Alijah Ladd is serving as its creative director and ex-Wayforward staffer Asleigh Hetrick is its art director.

"We're on a mission to cultivate a virtual world built by players: an online place where people can have a meaningful role in something bigger than themselves, own and share the products of their ingenuity, and foster a sense of belonging for others," the company wrote on its website.