Former Bungie CEO Harold Ryan has revealed what he's been up to since leaving the company in 2016.

The newly announced ProbablyMonsters is a non-traditional multi-studio company with plans to create AAA titles. And by "non-traditional" it means more than just the fact that it has been operating for three years in "stealth mode."

Ryan's vision for the company is one that guides and invests in new studios as a majority owner, while allowing them to operate as standalone businesses. ProbablyMonsters will assist in business planning and management, while also helping to establish publishing deals.

"As we enter a new generation of gaming, the industry needs a better model for building AAA studios where game developers can reliably turn their creative vision and effort into exceptional experiences that delight players," Ryan said in a press release.

"Our mission at ProbablyMonsters is to unite, guide, and empower talented game developers in a stable and predictable business environment that respects people, culture, and creativity."

During Ryan's tenure at Bungie he was responsible for its divestiture from Microsoft in 2007, as well as securing funding for a little game called Destiny.

ProbablyMonsters already has two studios under its umbrella – Cauldron Studios and Firewalk Studios, both of which are helmed by Bungie veterans.

Cauldron Studios is lead by Dave Matthews, whose credits include God of War and Myst – Matthews also worked as art director at Bungie. Cauldron's game director is CJ Cowan, who previously worked as story lead on Destiny's House of Wolves DLC and Taken King expansion.

Firewalk Studio is headed by Tony Hsu, who previously acted as SVP and GM of the Destiny Business Unit within Activision. Alongside Hsu is Ryan Ellis who will serve as the studio's game director. Ellis previously worked as creative director at Bungie.

While neither studio has made any game announcements, both have been signed by publishers.