Funcom, the makers of Anarchy Online and Age of Conan - Hyborian Adventures, today announced that they have recieved extra investment money from "Nordic Venture Parteners". Says an NVP representative of the deal, "The goal is to turn Funcom into a global powerhouse for subscription-based online games, and our investment will aid the company in evolving to the next level.”
|Funcom secures €5 million in financing from Nordic Venture Partners
Durham, USA – August 29, 2005 – Funcom, a world leading developer and publisher of subscription-based online games like ‘Anarchy Online’ and ‘Age of Conan – Hyborian Adventures’, has secured a €5 million equity investment from Nordic Venture Partners (NVP). The investment is a further testament to Funcom being a world-class developer and publisher of online games, and will further aid the company in developing and publishing online games.
“This is another great recognition of Funcom as Europe’s premier developer of MMOG’s (Massively Multiplayer Online Games), and serves as a tribute to the company and the quality of our games and technology” said Torleif Ahlsand, Chairman of the Board of Directors in Funcom and Partner in Northzone Ventures. ”There is a considerable market potential for subscription-based online games, and Funcom is a leader in technology and quality within the segment. We are very glad to have NVP on board to further develop one of the most exciting creative environments in the Nordic region, and we feel confident they will aid us in becoming even better at creating world-class online products.”
“Being one of the leading information and communication technology investments funds in the Nordic region we are only looking for the very best technology companies, and we feel confident Funcom fits great in our portfolio” said Claus Højbjerg Andersen, Partner in NVP and new Boardmember of Funcom. “We are convinced of Funcom’s unique quality and their world-class staff and technology. Our aim is to improve the business side of Funcom even further, thus supporting the company in realizing their creative visions. The goal is to turn Funcom into a global powerhouse for subscription-based online games, and our investment will aid the company in evolving to the next level.”
“The continued success of ‘Anarchy Online’ and the incredible feedback on ‘Age of Conan’ at E3 this year proves our ability to develop and maintain world-class online games” said Trond Arne Aas, CEO of Funcom. “We are naturally pleased by the recent investment from NVP and their active involvement in Funcom. With the support of NVP and our other investors, we have the potential of taking a leading role in the content and technology-development in the next generation of online games. This investment also aids us in preparing even better for launching exciting new content on the upcoming consoles and Windows Vista.”
Funcom Portfolio highlights:
* Age of Conan – Hyborian Adventures, Windows (In development)
Funcom is currently developing three Massively Multiplayer Online Games, including ‘Age of Conan – Hyborian Adventures’ and ‘Anarchy Online – Lost Eden’.
ABOUT NORDIC VENTURE PARTNERS – Nordic Venture Partners (NVP) is a leading pan-Nordic venture capital firm focusing on Nordic investments within the information and communication technologies (ICT) segment. The multi-stage NVP fund was established in 2000, and has approximately €300 million under management in three funds. NVP is committed to commercializing technologies beyond the Nordic region and to build sustainable companies over time. NVP invests in all stages of a company's cycle from seed up to pre-IPO; but only in sectors where NVP believes there are opportunities for global market growth and where the technologies are globally defendable. Go to http://www.nordicvc.com for more information.