GreaterThan Group has stepped into the games business with a portfolio that already includes Casey Hudson's Arcanaut Studios, Masato Sakai's MAGship and a revived BulletFarm, the shooter studio led by Call of Duty: Black Ops veteran David Vonderhaar.
The new US-based company is led by Simon Zhu, the former NetEase executive whose investment work has touched studios and projects across the industry. GreaterThan says its model is to fund and support studios while giving founders ownership in their own teams and shared equity in the wider company.
The BulletFarm piece is the sharpest update. BulletFarm said on LinkedIn that GreaterThan Group is now its new and sole partner. The studio also said it is in the early stages of a new first-person multiplayer and co-operative game focused on high-intensity action, systemic gameplay and cinematic immersion.
Game File reported, citing a GreaterThan Group representative, that Vonderhaar left NetEase in late 2025, acquired the BulletFarm name and joined Zhu's group in 2026. That gives the studio a clearer path after NetEase originally announced BulletFarm in 2024 as a new Los Angeles-based AAA team making an Unreal Engine 5 first-person co-op game.
GreaterThan starts with three named teams
GreaterThan Group's own site lists Arcanaut, BulletFarm and MAGship as its first studios. Arcanaut is led by former BioWare general manager Casey Hudson and is making Star Wars: Fate of the Old Republic with Lucasfilm Games. The studio describes the project as a narrative-driven single-player action RPG where players take the role of a Force user.
MAGship, based in Tokyo, is led by Masato Sakai, who GreaterThan says previously played a key role in developing Yu-Gi-Oh! into a global IP during his time at Konami. The company says MAGship is focused on Japanese anime projects as part of GreaterThan's wider IP strategy.
A Business Wire announcement carried by Morningstar says GreaterThan was founded in 2025 and that its portfolio studios are co-owned by GreaterThan and their founding teams. Zhu said in that announcement that GTG is trying to let creators spend more of their time building games instead of dealing with unnecessary distractions.
Why BulletFarm's return stands out
NetEase announced BulletFarm in February 2024 with Vonderhaar as studio head, after his long run at Treyarch. At the time, NetEase said the team was working on an original AAA game with co-operative gameplay and a fresh take on first-person action.
That context makes the new ownership update more than a routine company launch. BulletFarm had been tied to NetEase's broader push into global studios before that publisher began pulling back on some external investments. Game File reported earlier this year that BulletFarm was among the teams with a better chance of surviving that pullback, but its site later going dark left the studio's status unclear.
GreaterThan has not announced BulletFarm's new game's title, release window or platforms. The studio's latest public description keeps it in familiar territory for Vonderhaar's audience, with a first-person multiplayer and co-op project now being built under the GTG banner.