Tag Archives: funding

A paper outlining the options for the upcoming AUD$20 million budget for the Australian Interactive Games Fund has been released today.
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UK video games charity GamesAid has revealed the winners for its 2012 funding prize. Action For Kids, Jigsaw4U, Small Steps, Special Effect and The Willow Foundation received the plaudits and £36,000 in funding.

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LEGO Universe studio Gazillion Entertainment has obtained an extra $60 million in funding from Singaporean private equity firm Temasek Holdings.

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According to this VentureBeat piece, Two Worlds publisher SouthPeak has sealed a funding round of $12.9 million.

Apparently, the firm is targeting revenu of $30 million for the fiscal year ending June 30. Titles in the works include a sequel to Two Worlds, X-Blades and Edge of Twilight.

Time Warner and GGV Capital have agreed to finance Lord of the Rings Online developer Turbine to the tune of $40 million.

We’re not entirely sure if this is the same $40 million the company was supposed to have raised a month ago, but either way Turbine boss Jim Crowley is absolutely over the moon.

“This is truly an exciting time for Turbine. The addition of Time Warner, one of the world’s largest media companies, and GGV Capital, one of the financial community’s most sophisticated investors, adds a level of access, perspective and experience to Turbine that is singularly unique in the global online entertainment space,” he said.

Full press release after the link.

By Mike Bowden

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Realtime Worlds head David Jones has said that the $50 million the developer recently secured to continue work on APB and various other projects is a simple reality of triple A games creation.

“It’s easy for some people to underestimate what it really takes these days to produce a great game,” he said, talking to GI. “So we’re very resolute, we know what it takes, we know how much it costs, and we don’t kid ourselves that it’s going to take anything less.

“Just sticking to that principle, not trying to pull the wool over anyone’s eyes, both internally within the company and with investors, saying yes, it is a lot of money, but truly that’s what it takes.

“Unfortunately these days it does take that amount. Crackdown wasn’t that long ago and our development budget was something like $50 million, and even that to me now, I don’t know if I could do anything for much less than that.

“You’ve got the Call of Dutys, GTA IV – some challenging stuff to try and beat out there, or at least set a bar equal to that.”

Lots more through the link. APB’s down for a 2009 release.

According to this, Saw publisher Brash entertainment isn’t looking to go down the EA route to grow.

“We absolutely will not buy developers or build internal development teams,” said CEO Mitch Davis. “That is a strategy which has worked well for EA, Activision, THQ, and other publishers in the industry, but that is not our thing.”

The company, which will only make movie-based games, plans to bring 40 licenses to market over the next 4 or 5 years, and already has properties it is working on for 2010 and 2011.

“We offer a unique opportunity for collaboration between film studios, directors, and talent on movie properties and the best talent in the videogame marketplace,” Davis said.