Mattias Wiking has recently become the new leader of the Swedish strategy game studio Winterkeep Interactive. We spoke to him about his new role, the challenging funding landscape for studios, the strategy games market and Sweden's leading position in the industry.
GamesMarkt: How did you become the CEO of Winterkeep Interactive?
Mattias Wiking: "I had followed Winterkeep and the team for some time and had a lot of respect for what they were building. In December, Karl [Emdin] reached out and asked if I would consider stepping in as CEO. Once the question came, the decision was immediate. I believe strongly in the team and their vision. Petter, our Game Director, has a very clear creative direction and still creates room for collaboration, which is a combination I value highly. We were aligned on the timing. Karl wanted to focus fully on the game, and the studio was entering a phase where more structure around business and operations was needed. I formally started as CEO on January 1st."
GamesMarkt: You're also trying to secure funding for the studio. Isn't it difficult to find investors interested in games at the moment? How important was the initial funding of 10 MSEK (€0.9m) from Behold Ventures?
Mattias Wiking: "It is a difficult market for many studios right now. The bar is higher, and investors are more cautious than they were a few years ago. Having a clear idea of what you are building, who it is for, and the experience to actually deliver it matters more than ever. Even then, it is still hard."
"For Winterkeep, a clear vision and a very experienced team helped open doors, but the process still took time. There was interest from several directions, yet the dialogue with Behold developed over a longer period. It wasn’t a quick decision on either side. The initial investment of 10 million SEK from Behold Ventures was crucial. It allowed the team to work together full time and focus entirely on the game. Over the last four months, the team has moved the game forward roughly three times as much as they did during the previous twelve. That shift in focus and momentum made a real difference."
In October 2025, Winterkeep Interactive announced that the strategy game studio had secured an investment of 10 MSEK (€0.9m) from Behold Ventures. This funding will accelerate the studio’s growth and the development of its debut premium PC strategy game.
GamesMarkt: Winterkeep Interactive sees itself as a strategy games studio. How would you assess the market for strategy games, and what are the main challenges? If that's too broad a question, how about the situation in the 4X sector?
Mattias Wiking: "The strategy and 4X space is healthy, but demanding. The audience is experienced, opinionated, and knows exactly what it wants. That makes it a rewarding genre to work in, but also a difficult one."
"Many developers underestimate how much depth and consistency is required. It is easy to look at existing games and assume the systems are manageable, but delivering a coherent experience over dozens or even hundreds of hours is hard. A common mistake is trying to appeal too broadly and ending up with something that lacks focus."
"We know there is a large audience looking for deeper 4X experiences. It is an audience we have worked with for many years, and we take their expectations seriously. By combining proven design principles with carefully chosen new ideas, and by listening closely to early feedback and playtests, we believe it is possible to build something that truly resonates with that audience."
Winterkeep Interactive was founded in Umeå, Sweden, in 2025 by a core team of experienced developers: Petter Nallo, Karl Emdin, Frida Eriksson and Ola Enberg. At the beginning of 2026, Mattias Wiking became CEO of Winterkeep Interactive. He has over 20 years' experience in building and leading game studios. His background includes roles at Grin, Starbreeze, and Turborilla, as well as founding Paradox Arctic in Umeå in 2014. He is succeeding Karl Emdin, who served as CEO during Winterkeep's early phase.
GamesMarkt: The fantasy 4X strategy game is scheduled to enter full production at the end of 2026. How would you ideally like to have expanded and positioned the studio by then?
Mattias Wiking: "We currently have a small core team of five people. A lot of work has gone into making sure the foundation is solid and that the studio is ready for full production. Our ambition is to scale once additional funding is in place, hopefully during the fall. If that comes together, the goal is to grow to around fifteen people by the end of the year. We want to stay a reasonably sized studio, built on senior experience and talented juniors. It matters that people genuinely care about the kind of games we are making. Because of that, growing slowly and carefully is more important to us than growing fast."
GamesMarkt: Why is the Swedish games industry so strong, especially compared to those in other European countries?
Mattias Wiking: "I believe a lot of it goes back a long way. Sweden was early in adopting home computers, and the demoscene on the C64 and Amiga played a big role. It created a generation that learned to build, share, and experiment long before game development became a formal industry."
"That mindset carried forward. Experience has been passed between studios and generations, as people move on, start new teams, and bring their knowledge with them. Sweden was also early in establishing game related education, with programs already in place by the mid 1990s. Combined with a strong pay it forward culture, where teams openly share what works and what does not, this has had a lasting impact on the industry."
"On top of that, the social safety system in Sweden has made it possible for people to take risks. It has allowed many to try their ideas, start companies, and build studios without taking unreasonable personal risks. Over time, that combination has made the industry both resilient and strong."
